food prices

August Inflation Trends: A Mixed Bag with Rising Food Costs

In August, Cyprus saw its overall inflation dip to 1.5%, yet food prices skyrocketed, especially vegetables and greens, which surged by 41.7%. This contrast highlights a turbulent economic landscape, with falling oil and electricity costs battling against the relentless rise of agricultural product prices.

Rising Food and Transportation Costs in Cyprus

By Demis Papadopoulos

In August 2024, Cyprus faced a dramatic rise in consumer prices, with olive oil skyrocketing by 62% and potatoes increasing by 29%, according to the Cyprus Consumer Association. Contributing factors like seasonal changes and supply chain disruptions continue to shape the landscape of rising food and transportation costs across the island.