Life is getting pretty expensive. Across much of the world, it feels nearly impossible to keep up with rising costs – from annual rent increases to the slow climb of grocery prices – and many salaries are not keeping pace.
Last year, a report ranked the UAE among the top 10 best destinations to live and work for expatriates. Coming in at seventh out of the 46 countries included, the UAE was recognised for its high quality of life, ease of settling in, administration, housing and language. Though life in the UAE is undoubtedly comfortable – especially if you earn above a certain income bracket – many residents across different ages and backgrounds have steadily begun to feel the pinch.
In response to customer concerns about the cost of living, this week leading supermarket chains in the UAE said they were slashing the prices of around 10,000 staple goods.
In November, The National reported on how many baby boomers working in the UAE were delaying retirement to keep up with rising living costs and maintain residency. It is an issue in the US too where more than half of baby boomers said they were delaying retirement due to financial stress.
In Dubai, a reader asked real estate expert Mario Volpi how families can stay in the emirate long term when the cost of rents and properties continues to climb. Read his answer here.
Have you noticed that your salary isn't going as far as it once did? If so, email us about it at pf@thenationalnews.com.
'It's a good start': UAE shoppers back supermarket price cuts amid cost of living concerns
Major supermarket chains in the UAE are cutting the prices of thousands of groceries amid the rising cost of living and competition from budget retailers.
Though Ramadan is around the corner, these discounts are not part of the typical holy month promotions but were made in direct response to consumer demand for better value in the aisles.
Chocolate biscuits, cat food, shampoo, deodorant and cleaning products are among items subject to the biggest price cuts of up to 25 per cent.
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