In April, Cyprus saw a sharp increase in inflation with a rate of 2.4%, nearly double that of the previous month. The rise in the consumer price index to 117.09 units, driven by the expiration of government subsidies on oil products, has impacted local consumers significantly, leading to concerns over the cost of living.
Residents in the north are feeling the effects of rising electricity costs as KibTek announces a second price hike within a single month, resulting in a roughly 15% increase for all consumers. These new tariffs introduce a tiered pricing structure, with prices ranging from €0.09 per kWh for the first 250 kWh to €0.24 per kWh for usage over 1,001 kWh, and threetime tariff rates ranging from €0.18 to €0.24 per kWh depending on the time of day.
