Page 322 - MOE ENGLISH PR REPORT - DECEMBER 2024

1/2/25, 6:16 PM Global inflation: UAE tracks prices around world to prevent unjustified hikes - News | Khaleej Times
Profit margin cap
Al Saleh added that the new ministerial decisions give the ministry and Higher
Committee of Consumer Protection authority to put a cap on the profit margins of
the retailers and suppliers of these nine basic commodities to maintain price
stability in the local market.
However, other products’ prices are adjusted based on the supply-demand
factors.
The UAE and its companies have been pushing for self-reliance when it comes to
the supply of food and basic commodities as well as expanding their source
markets after the Covid-19 pandemic to maintain price stability and uninterrupted
supply of basic consumer goods.
“The ministerial decision also deals with the pricing of the unit for transparency
and the awareness among the consumer. When consumers buy these essential
products, they should know exactly what's the unit price for each commodity.
Then the third decision is related to guidelines and best practices. At the end of
that, the aim is to ensure that supplier and retailer relationships have no impact
on the price of the commodities,” he added.
Under the UAE laws, the violators could face a fine of up to Dh1 million and a
closing down of the entity for not adhering to local laws.
Establishing committees
Al Saleh explained that inspection teams should be identified in each emirate as
well as procedures of how consumers can submit their complaints to the local
government and to the Ministry of Economy and details for suppliers or traders if
they want to increase the prices in the local market.
“They should submit their application, attached with all the documentations and
evidence that provide that there is an increase on these commodities. The
ministry will review this application within 30 days, which can be extended by 15
days, and should submit their decision to the Higher Committee of Consumer
Protection,” he added.

https://www.khaleejtimes.com/business/economy/global-inflation-uae-tracks-prices-around-world-to-prevent-unjustified-hikes 2/2