Rising Food Prices and Their Impact on Households
October 4, 2024
Inflation rates in Cyprus saw a slight decrease in September, while food prices are increasing at a rate triple that of general inflation. Basic items such as potatoes and vegetables have surged by 23.30% and 6.38% respectively in September. The rising costs of household essentials are a significant burden for middle and lower-income households, with further increases expected due to the removal of the zero VAT rate. Consumers are expressing deep concern regarding rising prices in stores.