The UAE has said that it intends to form more food price control agreements with retail operators in order to curb inflation.
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Following the recent announcement that the Ministry of the Economy has reached a pricing deal with French retailer Carrefour, undersecretary Mohammed bin Abdul Aziz Al Shihhi said the UAE government plans to fix further food prices at 2007 levels.
“The Ministry of Economy intends to sign more agreements with more companies and cooperative societies to fix the prices of several products at the 2007 level,” he said.
The UAE government has reached such agreements with a number of domestic and international retailers, including the UAE’s Union Cooperative Society, Lulu Hypermarket Group and Baniyas Cooperative Society.
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By GlobalData
