Meat, sugar drive food prices up in 2nd week of Ramadan

Seafood and vegetables down by 3 per cent and 1.3 per cent, respectively

The Statistics Centre of Abu Dhabi (Scad) issued its second weekly report on food prices in the month of Ramadan.

Scad’s report indicates an increase of 0.5 per cent week on week in the prices of food commodities during the second week of the month of Ramadan, reflecting rises in the prices of meat by 5.2 per cent, sugar, jams, chocolate, honey and sweets by 2.2 per cent and coffee, tea and cocoa by 1.5 percent, while the price of the fish and seafood and vegetables retreated by 3 per cent and 1.3 per cent, respectively.

The report monitors changes in food prices during the second week of Ramadan compared with prices in the previous week and the month of June 2012.

Scad explained that the sales outlets that served as sources of price movements are closed sources adopting fixed prices.

Should the open market be accounted for as well, prices would no longer be fixed price. Instead the price of the goods supplied to the latter market are in fact wholesale prices and as such do not reflect the prices collected from closed markets as the consumer price index need to be based on the retail price per kg.

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