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CPA warns against unjustified price hike

24 Apr 2021

The Consumer Protection Authority (CPA) has warned against unjustified hike in prices of goods in the local market. 

In a statement, the CPA said that it continuously follows up on the prices of goods and services at local, the Gulf and international levels. ‘The authority has noticed that products in the sultanate’s markets are not affected – generally – by the reduction in international crude and energy prices that happen from time to time, which in some circumstances leads to a rise in prices of food and other goods. Whereas, this phenomenon may not be tangible in the sultanate’s markets like the global markets, some suppliers said that they had reduced prices initially in conformity with global prices and then they changed them back to where they were before the reduction. The authority considers this an unjustified raise and a breach of the prohibitory decision No 12/2011.’ 

The CPA added that it would like to coordinate with Oman Chamber of Commerce and Industry to ensure stability of prices.

 

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