Page 444 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

2/28/25, 5:08 PM UAE to monitor prices of 9 basic items in real time; retailers need approval to raise rates
Equipped with the latest data collection and analysis, the platform will
alert the relevant control team at the Ministry of Economy and other
relevant entities about outlets that do not comply with the price
ceiling set by the ministry.

It contributes to uncovering any monopolistic practices or price

manipulation by some merchants or suppliers with the a map feature
to determine the location instantly.

Abdullah bin Touq Al Marri, Minister of Economy, said the new
platform is a continuation of the efforts in exercising its regulatory
role and providing all the necessary capabilities, tools and

technologies to ensure the highest levels of transparency in
monitoring consumer goods prices and protecting consumers.

Last week, Al Marri visited major hypermarkets to ensure
that retailers have implemented the new pricing policy for nine basic
consumer items and have not raised the prices unjustifiably.

He toured Union Coop, Lulu and 5 other major outlets to ensure that
the prices of 9 basic consumer items were displayed clearly in line

with the guidelines.

Al Marri on Thursday noted that this new platform would help ensure
that goods are available at fair prices and protect society from
sudden price increases, control inflation, and control monopoly and
manipulation practices.

https://www.khaleejtimes.com/uae/uae-to-monitor-prices-of-9-basic-items-in-real-time-retailers-need-approval-to-raise-rates?amp=1 3/3