UAE: Price freeze announced for over 200 essential items at Lulu hypermarket
Aiming to beat global inflation rates and support UAE residents, LuLu Hypermarket has announced a ‘price lock’ campaign on more than 200 products.
This means there won’t be any hike in the prices of everyday products across all categories, including fresh produce and supermarket items, at all LuLu stores in the country until the end of 2023.
“LuLu Group is pleased to announce this innovative ‘Price Lock’ project to help our LuLu Hypermarket customers cope with the global price inflation that everyone is struggling with,” said Salim M.A., director of LuLu Dubai.
“We’re working closely with our suppliers to balance the local market and maintain the quality of life that the UAE is known for.”
The campaign applies to all in-store purchases of everyday products.
The UAE has launched multiple initiatives to keep the prices of essential items in check.
In November last year, the UAE Cabinet adopted a pricing policy for basic consumer goods. Retailers are not allowed to hike the prices of nine basic commodities without approval from the Ministry of Economy.
The products include cooking oils, eggs, dairy, rice, sugar, poultry, legumes, bread and wheat.
Prior to that, the Ministry of Economy had approved a policy to keep price hikes of basic food items in check. As per the policy, suppliers will have to submit evidence to justify price increases of some of the most sought-after items such as fresh and dry milk, fresh chicken and eggs, bread, flour, sugar, salt, rice and legumes, cooking oil, mineral water and others.
