Charts & Numbers

In Kuwait prices of some brands of cooking oil, mince meat, sugar and pasta rose by between 10% and 42% ahead of the start of the Islamic holy month of Ramadan. It is common during the holy month of ramadan for businesses to exploit customers in order to increase profit margins. Although, it is ironic that during the holy month of fasting, demand for food increases (albeit the reasons are logical). The governments plans to curb inflation in the short term will be halted during the month when employee productivity levels in all sectors decrease, food prices increase, and congestion is exponentially increased.

* Percentages are based on a survey conducted by al-Watan newspaper

Update 26/8/08: The Union Cooperative Society (similar to a supermarket association) in the UAE has just announced that it has slashed prices of 30 major commodities by atleast 25% for the month of Ramadan.  The UAE economy ministry has reiterated a warning that it would punish supermarkets that raise prices of goods in an unjustified way. In Kuwait the same warning was issued (numerous times) all the while prices kept rising upto 40% ahead of the holy month starting in September.