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Thursday, February 29, 2024

Weakening Euro advantageous for UAE consumers

Weakening Euro advantageous for UAE consumers
Weakening Euro advantageous for UAE consumers

(Dubai) – The weakening euro is leading to a rather positive outcome for consumers in the UAE as the prices of European food and beverage imports are expected to climb down in the coming months.
The 16 per cent drop of the euro against the dollar over the last year and the 4.3 per cent drop over the last month means that many of the commodities on the food shelves should become cheaper in time to come.
Supermarket chains in the UAE have said that they expect about a 10 per cent reduction in prices for consumers despite the fact that overhead costs would remain the same.
(Courtesy WAM)

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