Cyprus food prices’ wild fluctuation
The average retail price levels for basic consumer goods last week in Cyprus had risen by a staggering degree compared to those recorded on November 9.
The largest increases, which were observed in flour, hit 14%, while hikes in the prices of most frozen goods reached up to 9.5%.
This was demonstrated by the Consumer Protection Service’s Price Observatory, which is conducted on a monthly basis and includes fixed products and price-taking locations with the goal, according to the service, of monitoring and drawing conclusions from price fluctuations of basic consumer goods.
According to the Price Observatory’s Price Index, fuel rates increased 35% from December of last year, followed by cheese, which was up 20.5%, and pasta, which registered a 17.4% price rise.
The service clarified that the observatory is meant solely to assist and provide general information to consumers and does not constitute advice in any way. “Price observatories are not intended to and cannot replace the market research that each consumer must conduct based on their own preferences, data and needs, nor are they intended to recommend to consumers which points of sale to choose,” it added.
