White goods to cost more in Cyprus
Household appliances in Cyprus, such as refrigerators, washing machines and TV sets, are expected to experience price increases in the near future. The Retail Trade Association attributes this development to the Red Sea tensions. However, the Cyprus Consumers Association deems any price hikes in household appliances due to Houthi attacks on cargo ships as unjustified.
Retail Trade Association (PASYLE) General Secretary Marios Antoniou cautions against making definitive assessments about developments, given the evolving nature of the situation. He emphasizes the difficulty in determining universal percentage increases for appliances, noting that bulkier items incur higher percentage increases.
Antoniou explains that suppliers are currently adjusting and negotiating new prices with retailers, with both wholesalers and retailers absorbing a portion of the costs. He expresses confidence in the intense competition within the Cypriot retail market, which generally benefits consumers.
Cyprus Consumers Association President Marios Droussiotis urges caution in making statements about potential increases, emphasizing the need not to provide an excuse for unjustified price hikes by traders.
