UAE Launches Real-Time Price Monitoring for Essential Goods: Retailers Need Approval for Price Hikes

The UAE Ministry of Economy has introduced a cutting-edge digital platform to monitor the prices of nine essential commodities in real time. This initiative aims to prevent unjustified price increases and ensure compliance with government-approved pricing policies.

The National Digital Platform for Monitoring the Movement of Basic Commodity Prices will track price fluctuations of cooking oil, eggs, dairy products, rice, sugar, poultry, legumes, bread, and wheat across major retail outlets, including cooperatives, hypermarkets, and large stores that account for over 90% of the domestic market.

Equipped with advanced data collection and analysis tools, the platform allows regulatory authorities to monitor price movements, ensuring retailers adhere to the ceiling set by the ministry. It will automatically alert the Ministry of Economy and relevant authorities if any retailer exceeds approved price limits.

Combatting Price Manipulation and Protecting Consumers

The initiative is designed to curb monopolistic practices and price manipulation by some merchants or suppliers. A unique feature of the platform includes a location-based tracking system that pinpoints non-compliant retailers in real time.

Abdullah bin Touq Al Marri, Minister of Economy, emphasized that this digital platform strengthens the government’s regulatory framework, ensuring transparency and safeguarding consumer rights.

Recently, Al Marri conducted inspections at major hypermarkets such as Union Coop and Lulu to verify compliance with the new pricing policy. The checks confirmed that prices for essential goods were clearly displayed and aligned with government guidelines.

Ensuring Fair Prices and Market Stability

The new platform is part of the UAE’s broader strategy to stabilize market prices, protect consumers from sudden hikes, and prevent monopolistic behavior. Al Marri stated that this system will contribute to controlling inflation and maintaining market fairness, ultimately ensuring that essential goods remain accessible to all residents at reasonable prices.

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