UAE authorities have warned traders against raising bread prices during the fasting month of Ramadan, saying the price of bread is a red line which must not be changed under any circumstances.
The Ministry of Economy said most consumer prices must remain as they are during Ramadan, which begins in the second half of July, as part of its year-old initiative to stabilize the prices of more than 1,000 consumer items.
Head of the Ministry’s consumer protection division, Hashim Al Nuaimi, said traders violating fixed-price rules would be fined Dh100,000 and the penalty could be doubled in case the offence is repeated.
“Bread is an important strategic commodity for all…we will not allow any change in its prices during Ramadan…we stress to all that the price of bread is a red line which no one must violate,” he told Arabic language newspapers.
He said an initiative launched by the Ministry of Economy last year to stabilize consumer prices remains in force through Ramadan and afterwards.
“This initiative is not confined only to Ramadan but before and afterwards…all shops and other marketing outlets are urged to abide by these prices.”