consumer prices inflation

Consumers face steep price increases, association reports

In March 2024, Cyprus consumers faced steep price increases in essential goods, with olive oil prices surging by 61.7%. The Consumer Price Index highlighted that painting services and fresh fruit and potatoes also saw rises of 14.9%, 14.5%, and 12.4% respectively, while prices for other edible oils, sugar, and garden furniture dropped by 18.9%, 17.6%, and 11.8%. These fluctuations reflect the challenges consumers face in managing their budgets amidst economic volatility, requiring careful planning and adaptation to navigate the changing financial landscape.