The Ministry of Economy and Tourism said it will continue adding more products and retail outlets through its price monitoring platform as the country reaffirms its commitments to monitor the price of essential goods.
The Ministry’s Essential Goods Prices Platform, launched in April amid the height of regional tensions, attracted approximately 143,720 visitors between mid-April and July, with an average of more than 1,451 visits per day, the Ministry said.
The Ministry said on Wednesday that the platform has strengthened the market oversight ecosystem across retail outlets in the country by continuously monitoring the prices of essential goods and providing accurate analyses for better monitoring and decision-making.
It has also reinforced conventional inspection practices using the latest data and precise indicators for greater efficiency.
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What is the Essential Goods Prices Platform?
The platform essentially lists a comparison of basic food items at different stores and compares the lowest and highest prices. For example, rice is priced at a low of Dh4.20 at Nesto Hypermarket, versus a high of Dh16 at Spinneys.
Categories include cooking oil, wheat, rice, dairy, legumes, sugar, eggs, bread, and chicken.
The platform is designed to help consumers monitor prices of essential goods through an accurate and convenient platform. The Ministry itself also conducts regular inspections to monitor price fluctuations through the platform.
The Essential Goods Prices Platform currently provides pricing data for 8,343 products across 13 major retailers, comprising a total of 525 outlets.
‘Sufficient food supplies’
Safeya Al Safi, Assistant Undersecretary for the Control and Commercial Governance Sector at the Ministry, affirmed that ensuring the availability of essential goods and protecting consumer rights in the UAE remain national priorities, in line with the directives of the wise leadership.
She added that retail outlets across the local market continue to maintain sufficient supplies of a wide range of goods and products to meet consumer demand, while offering diverse choices and alternatives in goods and services, reflecting the resilience of UAE markets and their ability to respond effectively to consumer needs.
“As part of the Ministry’s ongoing efforts to strengthen market oversight, the Essential Goods Prices Platform provides an advanced digital tool for monitoring prices and tracking changes in price levels and market movements with greater consistency and accuracy,” she said.
“It enables continuous monitoring of market developments, analysis of emerging trends, and identification of patterns or changes that require further review and verification. The platform has also enhanced the Ministry’s ability to respond efficiently to any developments or changes affecting market dynamics.”
Source: Khaleej Times