Economic Ministry to Launch New System to Report Price Hikes on Essential Goods

Ministry of Economic Development has announced plans to introduce a new system for the public to report instances of essential food items being sold at inflated prices during the month of Ramadan.

Speaking at a press conference held at the President's Office today, ministry officials outlined their preparations for the upcoming fasting month, emphasizing measures to stabilize food prices.

The new monitoring system will oversee 141 essential goods, categorized into three groups: 93 items commonly used in household cooking, 38 types of fruits and vegetables, and 10 fish products.

The Ministry stated that any price hikes will be addressed under the "Policy for Determining Essential Items, Price Monitoring, and Market Intervention." Additionally, they are working with STO to release goods into the market as needed to maintain price stability.

Officials also noted that steps have already been taken to manage price surges. For instance, STO recently imported shipments of coconuts and limes in response to supply shortages and rising prices.

The new reporting system aims to ensure price stability and provide essential goods at affordable rates throughout Ramadan.