Bahrain: New Initiatives Aim to Combat Soaring Prices
According to World Data Info, an inflation rate of 3.6 per cent was calculated for 2022 in Bahrain. More recently, the cost of food in Bahrain increased 6.70 per cent in April 2023 over the same month in the previous year.
Inflation in the GCC has been significantly lower compared to the most advanced and emerging market countries. But the rising prices still impact people living on a humble salary. The average salary of Bahraini nationals who hold diploma degrees are entitled to a minimum wage of BD380 monthly, and Bahraini nationals who hold university degrees are entitled to a minimum wage of BD450. Expats also suffer as there is no minimum wage set for them, and they are usually paid lower monthly salaries.
Fortunately, the Industry and Commerce Ministry announced the launch of the consumer protection initiative for commercial establishments that sell and trade commodities and food products in the Bahrain market. It is aiming to reduce the cost of 10 food commodities by 10 per cent.
As people fall victim to the soaring prices of basic living needs, the new initiative will support residents and citizens in the Kingdom by offering the lowest price for food items, assuring affordability in the country.
