Consumer watchdog to use Janadriya to spread awareness
Dancers take part in a traditional sword dance on the sidelines of the Janadriya festival on Thursday. (AN photo)
Published: Mar 19, 2010 00:06 Updated: Mar 19, 2010 00:06
JEDDAH: Consumers will be able to learn how they can safeguard their rights for the first time at the 25th Janadriya festival, which opened in Riyadh on Wednesday.
The non-governmental Consumer Protection Association (CPA) has a special pavilion and aims to create consumer awareness to help curb artificially high prices.
The consumer watchdog says it will listen to complaints and suggestions concerning rising prices.
“The CPA’s objective is to protect consumers and preserve their rights as well as defend them. We aim to safeguard the consumer from all kinds of fraud and deceit, such as the unjustified rise in food and commodity prices,” said CPA president Mohammed Al-Hamad.
The problem of traders inflating prices has been a serious problem Saudi Arabia has been trying to overcome for the past three years. The issue stems from the global financial crisis, which created high inflation rates and an increase in prices in the Kingdom and worldwide.
Nonetheless, the argument over the last few years is that prices should be stable, as inflation has decreased substantially from its highs of 2007-2008.
Others say that the Ministry of Commerce and Industry should play a greater role in regulating prices. The ministry had reportedly promised numerous times to exert more control, but little has been done so far.
Others believe that there are no real economic reasons behind rising prices and that it is simply due to the greed of the traders.
According to the latest report from the Central Department of Statistics, Saudi inflation rose to 4.6 percent in February, an increase on its January rate of 4.1 percent. The cost of living index also rose to 4.6 percent.
The cost of rent, fuel and water went up by 10.6 percent, services increased by 5.8 percent and food and beverages by four percent.
Housing rose by three percent, education and recreation by 1.1 percent and health care by 0.1 percent.
Nevertheless, economists in Saudi Arabia say the 2010 inflation rate should still be lower than 2009 at an average level of 4.3 percent.

Comments
MARY ANN SHUBAILY
Mar 20, 2010 14:18
Report abuse