Ministry of Economy Announces Details of New Pricing Policy for Basic Consumer Goods

The Ministry of Economy has announced the details of a new pricing policy for basic consumer goods, set to take effect on January 2, 2025.

• The policy identifies nine basic consumer goods—cooking oil, eggs, dairy, rice, sugar, poultry, legumes, bread, and wheat—along with their related sub-commodities. It also includes household detergents. The prices of these items cannot be increased without prior approval from the Ministry. All other goods and products in the country’s markets will remain subject to market mechanisms and the principles of supply and demand.
• Measures will be implemented to regulate the supply and demand for basic consumer goods across all emirates of the country.

• A dedicated “Basic Commodity Price Monitoring” team will be established to oversee price movements, review requests for price increases, and address complaints related to violations of the new policy.