ECONOMY

Cyprus labor union frets over prices

Cyprus labor union frets over prices

The Pancyprian Federation of Labor (PEO) has expressed its concern about the continuous upward trend in fuel prices in Cyprus, which, as it notes, “will add to the cost of basic consumer products.”

In a statement on Tuesday, PEO stated that “the increases have no end, as the upward trend of fuel prices is expected to continue in the next period, with further knock-on increases in other consumer goods.”

It added that “the new increases that have been imposed, as well as those that will come soon, burden workers, low-income retirees, vulnerable groups of the population who will again pay the price.”

PEO has criticized the government of Cyprus, stating that, “once again, [the government] watches with apathy, trying to convince people that there is no problem and there is no need to do anything.”

“The government must stop pre-empting obstacles for any type of intervention that will alleviate the problem for the people,” PEO said, noting that “when the interests of big business or banks are at stake, the government takes action immediately.”

PEO has traditionally been affiliated with Cyprus’ main opposition, the leftist AKEL party.