Olive oil and potato prices up in Cyprus
Olive oil and potatoes saw the steepest price increases in August in Cyprus, according to the latest data from the Cyprus Consumer Association released on Friday.
The price of olive oil surged by 62% compared to August 2023, while potatoes became 29% more expensive over the same period. Ticket prices for passenger buses and coaches also climbed by 26%, and fresh vegetables saw a 19% increase.
On the flip side, sugar prices dropped the most, falling by 27.6% from last year. International flight tickets also decreased by 13% compared to August 2023.
From July to August 2024, fresh vegetables saw the largest price rise at 25%, followed by other vegetables at 18% and potatoes at 16%. In contrast, fruit and frozen seafood saw the biggest price drops, decreasing by 6% and 4%, respectively.
It is reminded that, according to the August data on the consumer price index that the Statistical Service of Cyprus published on Thursday, inflation in Cyprus slowed down last month, with prices rising by 1.5%, compared to a 2.1% increase in July. In the year’s first eight months the CPI rose 2% year-on-year.
