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Five reasons why Dubai living costs are falling
It’s still not the cheapest city in the world, but with inflation at a five-year low, many essential items are becoming more affordable.
February 16, 2010 4:02 by Aarti Nagraj
2. Food prices
The prices of essential items peaked in 2008, when the government was forced to team up with private supermarket chains across Dubai to reduce the rates of consumer goods. Places like Lulu Hypermarket cut rates by between 10 to 30 percent during 2008 and 2009.
But with the financial crisis, consumer product prices across the world have dropped, and according to Lulu spokesperson V Nandakumar, the rates currently are much lower than in 2008. “All are happy now,” he says.
3. Phone rates
Earlier this month, UAE telecom provider du said that it was launching new international calling rates for landline users, which are a third of the rates currently available with its competitor, Etisalat. The move came soon after the UAE’s Telecommunications Regulatory Authority (TRA) announced that du and Etisalat will be able to set their own prices without seeking government approval.
The move will help prevent measures such as predatory pricing, and foster healthy competition, the body said.
Healthy competition among the two operators would probably translate into lower calling rates for consumers.
4. Transport costs
The introduction of the Dubai Metro last year, albeit with just 10 stations open at launch, offers a cheaper option to travel around the city. The fares range between AED2.00 and AED6.50 for a one way regular class ticket, and take you from one end of the city to another.
With all the Red Line and Green Line stations expected to open by the end of this year, the Metro could become an easy and relatively cheaper mode of transport for Dubai’s residents.