One of the biggest hypermarkets in the United Arab Emirates (UAE), Lulu Hypermarket, has capped prices of over 200 essential commodities under a campaign called ‘Price Lock.’
As a result, everyday items, including fresh products, will not see a price hike until the end of 2023. The move will provide significant relief to consumers during skyrocketing inflation worldwide.
Speaking about the initiative, the Director of Lulu Dubai, Salim M.A, stated that it will help Lulu Hypermarket customers that are struggling against the rising costs of commodities.
He further remarked that the hypermarket is working closely with the suppliers to keep prices at current levels. The Price Lock campaign applies to all in-store purchases of essential items.
Similarly, in November 2022, UAE’s Cabinet ordered retailers to not increase the prices of 9 essential items, including poultry, dairy, and bread, without seeking approval from the Ministry of Economy (MoE).
