Marginal increase in food prices during the third week of Ramadan

Overall food prices rose 0.49 per cent in the third week of Ramadan compared to the previous week, showed figures released yesterday by the Statistics Centre-Abu Dhabi (SCAD).

In its Foodstuffs Price Index, SACD attributed the overall rise to an increase in the prices of certain items in various sub-groups.

Meat prices increased by 40 per cent, fish and sea food by 2.75 per cent, fruits by 1.98 per cent and pulses by 1.04 per cent, the centre's report said. Other items whose prices moved up were sugar, jam, honey, chocolate and confectionery – all by 0.06 per cent – and coffee, tea and cocoa by 0.33 per cent.

Meanwhile, partially offsetting this rise, the prices of some other items inched down: bread and cereals by 0.14 per cent, milk, cheese and eggs by 0.53 per cent and oils and fats by 2.15 per cent. Prices of mineral water, soft drinks and various types of fruit juices remained stable.

Further, in a comparison of prices between the third week of Ramadan and the week preceding the start of the holy month, the report revealed that prices had risen 0.2 per cent. This resulted from a surge in the prices of items in a number of subgroups, with bread and cereal prices going up 1.20 per cent, meat by 0.43 per cent, fruits and pulses by 0.64 per cent each, sugar, jam, honey, chocolate and confectionery by 1.35 per cent, and, mineral water, soft drinks and fruit juices 0.35 per cent.

In the same comparison period, prices of some other goods dropped as well. Fish and seafood prices fell 2.70 per cent; milk, cheese and eggs by 0.21 per cent; oils and fats by 0.55 per cent; and coffee, tea and cocoa by 0.10 per cent.

Analysis of the report's findings points to a rise of 0.07 per cent in food prices during the third week of Ramadan as compared with the price levels of July.

This was due to higher prices of meat, whose prices nudged up 0.34 per cent; fish and seafood, which increased by 2.65 per cent; pulses, which went up 16.19 per cent; sugar, jam, honey, chocolate and confectionery increasing by 15.64 per cent; and mineral water and soft drinks by 1.05 per cent.

In the same period, the prices of some goods went down as well. Bread and cereal prices fell by 7.79 per cent; milk, cheese and eggs by 1.81 per cent; fruits by 11.89 per cent; oils and fats by 0.98 per cent; and coffee, tea and cocoa by 0.64 per cent.

The report is part of a series through which the centre will closely monitor daily changes in the prices of food commodities in the local markets of Abu Dhabi during Ramadan.

Keep up with the latest business news from the region with the daily Emirates Business 24|7 newsletter. To subscribe to the newsletter, please click here.

Follow Emirates 24|7 on Google News.