Food price inflation upsets grocery budgets
Food price inflation upsets grocery budgets
Dubai: Food price inflation is feared to soar up to 40 per cent this year from last year's 27 per cent, according to a survey conducted by Emirates Consumer Protection Society (ECPS), indicating more difficulties for numerous consumers already struggling to make ends meet under the weight of rising basic commodities.
Food prices are accelerating at a fast pace since the year began, pushing the average consumer's budget.
"Before, my monthly budget for grocery, which includes all the essential commodities, was between Dh250 to Dh300. But late last month I've noticed that it's not enough so I needed to increase it to Dh500 to cover expenses for all my needs, especially food," shared Cezoralene Reynes-Fernandez, an Art Director from an advertising agency.
"I also experienced a big increase in the price of rice. Before, a five-kilo of jasmine rice was only Dh14, but now it has reached Dh18 and sometimes jasmine rice is out of stock," Fernandez added.
Sidd Chikkamath, a sales director from an events management company, shared the same experience.
"Our monthly budget for food including basic commodities last year was only Dh600, but this year it almost doubled. We also experienced shortage of poultry products in the grocery. Some of our preferred brands are not available."
One of the factors that affected the increase of food price increase is the weakening of dollar. The falling value of the dollar has been having a ripple effect in food prices, particularly imported products. The ongoing trend has been confirmed by the latest consumer price index released by the Ministry of Economy (MoE).
The index showed that 1-kilo of Indian veal boneless imported from India, which used to sell for Dh16.90 last month, now costs Dh17.90. Whole fresh chicken from Ras Al Khaimah jumped to Dh17 from Dh15 a kilo. The UAE's Shaari fish (whole), which used to cosr Dh16.50 per kilo, now sells for Dh19.90.
The MoE collated the prices last Monday covering around 45 essential commodities.
