Food prices up 1.9% in first week of Ramadan, reports SCAD

2013-07-22 17:17:25
WAM ABU DHABI, 22nd July, 2013 (WAM)– Food prices in Abu Dhabi increased by 1.9% during the first week of the month of Ramadan, compared with the first week of the previous month, reflecting rises in the prices of “fruits” by 5.9%, vegetables by 7.9% , “coffee, tea and cocoa” by 3.2% and “Fish and seafood” by 2.8%, according to the first weekly report by Statistics Centre – Abu Dhabi (SCAD) on food prices in Ramadan.
As for the changes in the expenditure groups detailed by region, the largest rise was observed in the “Fruits” group in Abu Dhabi region, where the group advanced by 5.6%, compared with 5.8% in the Al Gharbia region and 10.7% in Al Ain region. Prices of the “Vegetables” group recorded an overall rise of 7.9%. A breakdown of the increase by region reveals a rise in the group’s prices by 7.5% in Abu Dhabi, 12.2% in Al Gharbia and 7.8% Al Ain region.
This issue of the report monitors changes in food prices during the first week of Ramadan compared with prices levels in the preceding week and the same week in previous month.
SCAD says the report data is instrumental to the monitoring of food prices by the government authorities, to ensure that there is sufficient supply of various good during Ramadan, as well as to exercise consumer protection. For the first time, the inflation rate it is detailed by region for higher accuracy.
The food price index methodology has been developed by a team of experts in conformity with relevant international standards. The index is compiled on the basis of a basket consisting of two main groups and 11 sub-groups.
— Week over week comparisons.
SCAD’s report indicates an increase of 0.6% in the prices of food commodities during the first week of Ramadan compared with the preceding week, reflecting rises in the prices of “Coffee, tea and cocoa” by 5.4%, “Fish and seafood” by 1.4%, vegetables by 1.3%, and “Fruits” by 1.2%.
A Breakdown by region shows increases in most of the basket food groups during the first week of the month of Ramadan compared with the previous week. For instance, the price of “Fish and seafood” advanced by an average of 1.4% for Abu Dhabi Emirate as a whole, the corresponding rises being 3.7% in Al Ain region and 0.5% in Abu Dhabi and Al Gharbia regions.
The Centre added that the updated methodology of the daily food price index has already been approved; pointing out that it is consistent with relevant international recommendations and standards. The index basket consists of 214 items.
Price data are collected from sources selected on the basis of field visits paid by a team from the Field Operations Section, in collaboration with the Prices and Income Section. Sources were selected with care being taken to ensure that they are representative of a broad segment of consumers across the Emirate of Abu Dhabi during the month of Ramadan.
SCAD emphasised the importance of the consumer prices index (CPI) in the promotion of statistical awareness about consumption among the public, especially in the holy month of Ramadan and other periods where the index can reflect the movement of prices and rates of inflation, thus helping better planned spending.
In addition, the index offers a baseline for government authorities concerned to monitor prices, ensure that there is sufficient supply of various goods, exercise consumer protection, learn about consumption patterns during the holy month thereby obtaining inputs for future planning in this regard.
WAM/MMYS

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