High prices persisting in Cyprus
A number of goods and services are expected to stabilize at high prices in Cyprus in the coming period, while food prices are expected to rise ahead of Easter. These are the conclusions drawn from the Consumer Price Index for the first two months of 2023, as well as reports from market professionals to Kathimerini Cyprus.
It is possible that the same dish on a restaurant menu will cost more by the end of the month, while the Easter spread will cost more due to expected increases in meat prices. The Consumer Protection Agency will launch a price comparison app, but that is not expected to come out before October.
The price index data provide a more accurate picture of the rise in the cost of living over the last three years. As a result, bread is 22.4% more expensive this year than February 2020 and 12.8% more expensive compared to 2022. Rice has increased by 15%, while pasta has increased by 25%. Beef and veal prices have risen by 28.6% since 2020, and by 25% since last year.
Less noticeable is the increase in pork, which is up 14% from 2020 and 18% from the same period last year, while lamb is up 24% from 2020 and 26% from 2022.
