Bakeries and restaurants in the UAE have asked for permission to raise the prices of their products to match higher costs of labour, imports and rents.
Authorities said they would consider such a request in September and whether it would be accepted, rejected or delayed for price stability.
“We have received requests from bakeries, restaurants and some companies asking for permission to increase the price of their products,” said Hashim Al Nuaimi, director of the consumer protection division at the Ministry of Economy.
“The Higher Committee for Consumer Protection will meet on September 20 to study this request - whether to approve it, reject it or delay it. aAdecision will be in line with the Ministry’s policy to maintain price stability in the country.”
Nuaimi, quoted by local Arabic language newspapers, said those applicants justified their request by an increase in their rents, higher cost of living and wages for their labour, and an increase in the price of implored supplies.
He said those requesting higher prices presented a study comparing their prices with those in other Gulf countries.
“They have to wait for a decision by the committee. Raising prices without a prior permission is not accepted and those who do so will be fined between Dh5,000 and 100,000. Our priority is price stability,” he said.