A rise in consumption in Muslim families during Ramadan has forced the UAE government to step in and freeze prices of 1650 basic commodities during the month, a report has revealed.
According to the Ramadan and Consumers 2012 Trends Report carried out by Euromonitor International, consumption in Muslim families during the Holy Month increases by 20%-30%.
An agreement between the Consumer Protection Department and 320 retailers will see prices frozen until the end of the year, partly aimed at limiting the price inflation that normally occurs during Ramadan.
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Economist No'man Ashour said: ―There should be an awareness campaign to educate customers against price manipulation and the hoarding of food during Ramadan.”
He also advised customers against making irrational purchases while fasting.
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