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20% rise in inflation bites public
KUWAIT CITY, May 23: Despite the official denial of any increase in the prices of basic commodities on the ground, no one can avoid the wave of inflation that is getting higher everyday, with the latest being poultry, which recorded a hike that was clearly reflected on consumers, reports Al-Rai daily. According to informed sources, the Ministry of Commerce and Industry has not allowed any poultry company to increase its prices in cooperative societies and markets. It is committed so far to the decision to fix prices, which is the same position maintained by the Union of Consumer Cooperative Societies (UCCS).
The UCCS Director Abdulaziz Al-Sultan affirmed this fact during the meeting of the affiliated Economic Committee of the Council of Ministers that was held on Sunday, May 22. The sources explained that poultry companies are faced with the decision to fix prices by taking advantage of the set margin for prices, for which they used the minimum for reasons of competition. These companies resorted to returning to the maximum allowed in cooperative societies, and some canceled the offers and discounts that were available to compensate for the cost difference.
This made the consumers feel the increase in prices. The daily’s tour of the markets revealed that the rise in prices of chicken has become a concern among the public, as it has increased by 20 percent, and there are expectations that it will rise more in the coming months. In parallel with the increase in the price of chicken in the markets, the supply centers witnessed the provision of chicken weighing 1,200 grams, which is not very popular with citizens as they prefer to buy chicken of small sizes. In this regard, the sources indicated that poultry companies have officially asked the officials of the Ministry of Commerce to increase their prices, under the pretext of the high cost of breeding and production by more than 40 percent compared to the previous cost.
They stressed that the ministry officials did not agree to increase the prices of poultry in the markets, commercial centers and cooperative societies, and that the decision to fix prices is still in effect, but they approved raising their prices in the supply centers at a rate of approximately 11 percent after carrying out long negotiations with the supply companies which proposed an increase of 30 percent. The sources affirmed that the public will not bear the planned increase in supply, and that the ministry will raise the food subsidy allocation to the extent of covering the rate of the new increase in full. They revealed that the application of the new prices for poultry in the supply centers began from the