JEDDAH — The Ministry of Commerce and Industry is in the process of compiling a price index for Ramadan. The index will cover all categories of goods consumed in large quantities during the holy month, an official at the ministry confirmed. The ministry releases a price index ahead of Ramadan every year as part of measures to prevent attempts by traders to tamper with prices as demand for many consumer goods rises sharply with the advent of the holy month.
Muhammad Ali Al-Amairi, a citizen, said each family spends an average of SR1000 on buying essential commodities ahead of Ramadan and at least SR4000 during the holy month. Ameen Fawal, a pensioner, said the prices of sheep jump to SR1500 per head during the fasting month while the retail price fluctuates between SR35 and SR45 per kilogram for the local breed Hari. Hassan Ajaj, a market watcher, said consumers were largely responsible for the price rise because they tend to shop at the last moment creating unnecessary chaos in the market. “I don't see any good reason for this shopping craze because there is sufficient stocks in the market. Moreover, people can replenish their pantry well ahead of Ramadan to avoid the unnecessary rush,” Ajaj said. He said people living in cities tend to spend more than villagers and those residing in small towns. One reason for the last-minute shopping rush is most stores and supermarkets announce special offers toward the end of the month when people get their salaries. Despite all efforts to control the prices of the consumer products, meat prices spiral during Ramadan when demand increases tremendously and Ajaj urged consumers to look for alternative products in a move that will help bring prices down. — SG
