Jordan fixes food prices to combat inflation

21 April 2008
Jordan’s Ministry of Industry and Trade has fixed the prices for rice and sugar in an attempt to control rampant inflation in the kingdom.

Industry and Trade Minister Amer Hadidi is expected to announce what level the prices have been at on 22 April. Jordan’s retailers and food suppliers expect prices to be set at 8 per cent above the current wholesale cost, says Khalil Haj Tawfiq, the president of the Foodstuff Traders’ Association.

“This is only a suggested figure and we think it will be a fair price for all stakeholders,” says Tawfiq.

The ministry plans to fix prices for other basic foodstuffs, such as powdered milk and vegetable oil in May.

Inflation hit 10.8 per cent in the year to the end of March, exceeding Ministry of Finance forecasts that prices would rise between 8 and 9 per cent in 2008 (MEED 15:4:08).

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