AMMAN — Prices of consumer goods, commodities, in
particular, have witnessed a sharp rise in prices in the local markets during
the last two months, attributed by dealers and retailers to a global hike in
prices and a disruption in the production and supply chain, according to Jo24.
اضافة اعلان
Jordanian officials and traders agree that the local market
has been battling with the repercussions of a hike in global commodity prices,
calling on the government to intervene to mitigate the impact on consumers
through a review of the sales tax and customs duty.
Although the government recently announced measures to limit
the impact of high global prices on food and essential commodities in the local
markets, traders and officials believe that reducing the sales tax on those
foods and commodities is the most impactful measure.
Secretary of the Amman Chamber of Industry Tamim Qasrawi
said that global markets are witnessing a significant rise in the price of
various foods and commodities, in certain instances up 100 percent. Among the items that have recently recorded
sharp increases, are processed meat, milk, oils, and some types of
legumes.
An increase in freight charges and other production inputs
have further contributed to the price rise in consumer goods. Qasrawi attributed the price rise that also affected
locally made alternatives to disruptions in the production and supply chain due
to COVID-19.
Economist Zayan Zawana said that the local stockpile of
goods had saved Jordan from the impact of a sharp rise in prices at a time when
domestic demand was relatively low due to limited incomes.
Zawana said that the hike in food prices locally was due to several
factors, including the rise in production costs, in addition to the high price
of imported goods, which was bound to affect end consumers.
The UN Food and Agriculture Organization (FAO) said that the
global food price index jumped to a new peak last October, reaching its highest
level since July 2011.
The FAO Food Price Index, which tracks monthly changes in
international prices for food commodities, averaged 133.2 points in October, up
three percent from September.
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