Minister of Economic Development and Trade Mohamed Saeed has announced that the National Bureau of Statistics will soon introduce an Essential Commodity Price Index (ECPI) to monitor and help control the prices of widely consumed food and household items.

Speaking to State media on Monday night, Minister Saeed said the ECPI will allow the Government to monitor price changes monthly, with some essential items tracked daily in selected shops. He said this would enable a faster response to price fluctuations and help keep critical goods affordable.

The ECPI, which is expected to be made public within two days, will focus solely on essential commodities, in contrast to the existing Consumer Price Index (CPI) that measures inflation across all sectors.

The index will track 162 items, including 111 common household goods, 39 varieties of fruits and vegetables, 10 types of meat or fish, and 2 energy products. Of these, 35 are classified as critical items – with no substitutes or additional subsidies available for them.

Minister Saeed also highlighted that over the past two years, the Government has taken significant steps to stabilise food prices and ensure easier access to essential goods. He noted that these measures allowed the public to purchase food at reasonable prices during the past two Ramadans.

He added that the initiative is part of Government efforts to implement sustainable solutions for price stability, with further measures to be introduced in the future.