Food Prices Edge Down 0.1 percent in the Fourth Week of Ramadan, Reports SCAD
WAM Abu Dhabi, 18th Aug. 2012 (WAM) -- Statistics Centre - Abu Dhabi issued today its fourth weekly report on food prices in the month of Ramadan. This issue of the report monitors changes in food prices during the fourth week of Ramadan compared with prices levels in the first and third weeks as well as with the week preceding the holy month.
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 in fact represent 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 Kilogram.
Food prices in week 4 compared with week 3 of Ramadan: SCAD's report indicates a drop of 0.1 percent week over week in the prices of food commodities during the fourth week of the month of Ramadan, due to falls in the prices some expenditure groups including the fruits which retreated by 1.3 percent, followed by "Food products not elsewhere classified" (down 1.0 percent) and "Milk, cheese and eggs" (down 0.8 percent).
On the other hand the same period of comparison saw the prices of the "Fish and seafood" and "Vegetables" advance by 1.3 percent 0.7 percent, respectively.
Food prices in week 4 compared with week 1 of Ramadan: The Ramadan food prices weekly report also revealed an overall increase of 0.7 percent in the prices of food commodities during the fourth week of the month of Ramada, compared with the first week of the holy month, reflecting rises in the prices several expenditure subgroups including meat, which increased 4.0 percent, followed by "Sugar, jam, honey, chocolate, and confectionery" (up 0.9 percent), "Fish and seafood" (up 0.8 percent) and "Oils and fats" (up 0.7 percent).
By contrast, a range of other food products displayed lower prices during the aforesaid comparison period, including "Fruits" (down 3.1 percent), "Food products not elsewhere classified" (down 1.6 percent) and "Bread and cereals" (down 1.2 percent).
Food prices in week4 of Ramadan compared with the week preceding Ramadan: SCAD also reported a rise of 3.3 percent in food prices during the fourth week of Ramadan compared with the week preceding Ramadan, reflecting increases of: 9.6 percent in the price of "Fish and seafood", 7.0 percent in vegetables, 6.6 percent in the "Meat" group and 6.0 percent in the "Coffee, tea and cocoa" group.