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Dubai: The UAE Ministry of Economy (MoE) and Bani Yas Cooperative Society have signed a memorandum of understanding, (MoU) pegging the prices of 56 basic food commodities to 2007-levels.
Click here to see the prices of selected commodities
Bani Yas Cooperative Society is the fourth retailer which has signed an agreement with the MoE in line with the Ministry's efforts to curb inflation.
The products included under the MoU are various types of rice, sugar, oil, flour, margarine, tea, salt, dairy products, tomato, paste, legumes, chicken, meat, cheese, eggs, water and bread.
Most meat varieties have registered a drop in prices this week, according to the latest price basket released by the MoE.
LuLu Centre Dubai's fresh mutton meat sourced from Australia had drop-ped from Dh22.50 per kilogram to Dh19.90, while Union Cooperative Society offers it for Dh27.90 per kilogram. LuLu Centre Abu Dhabi slashed the price of boneless Indian veal to Dh17.75 while at Abu Dhabi Carrefour it went up to Dh17.90.
The rates of basic commodities for the rest of the stores covered by the ministry's weekly survey were not available. The data released by the Ministry of Economy showed LuLu Centre was the week's top pick among retailers.
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