in-cyprus 11 August 2022 - by Annie Charalambous
As if the current inflation is not high enough consumers are warned that a third wave of high prices is on the way – this time on milk and dairy products.
Farm milk prices are to increase between 30-33% and wholesale dairy prices between 14-17% in 2022, according to financial experts.
Cypriot consumers are already struggling with rising prices and, as a consequence of inflation, there is an increase in the value of the work index but a decrease in volume, Philenews reports.
In general, the value index is increased by 20.1% and the volume by 9.3%.
For the first half of 2022, the value index is estimated to have increased by 14.4% and the volume index by 4.6% compared to the same period in 2021.
However, only one sector was actually unaffected by the pandemic measures and that concerned foodstuff.
In food, the value index increased by 7.7% while until recently the turnover volume decreased by 4.7%. In June, due to tourism, the volume also increased by 1.3%.
