Consumer Protection Service 28 August 2023
The Consumer Protection Service announces the Consumer Product Price Observatory for July 2023. The Observatory presents the weighted average price for 250 basic consumer products (food and other products), based on the quantities and prices per day in which these products were sold in 400 retail stores throughout Cyprus throughout the month.
The purpose of the Observatory is to provide the consumer with an objective comparative depiction of purchase prices from all retail stores, supermarkets, bakeries, bakeries, kiosks, etc.
In conclusion, the assessment made for July shows that prices show increases in most product categories, especially food, which reflect the published data of the Statistical Service, according to which, inflation in the food sector reached 2023.8% in the period January – July 9 compared to the same period last year. The corresponding inflation rate in the six months of January – June 2023 was 8.75%. In addition, compared to the previous month of June 2023, there is an increase of 1,21% which is due to the increase of prices of fresh and processed agricultural products by 3,0%.
As shown in the Table with the price indices for July, in a total of 45 basic product categories, 13 categories recorded a decrease, with the main one being LPG cylinder by 5.7%, fresh fish by 15%, evaporated/sweetened milk by 2.8% and legumes by 1.2%, while a decrease was also observed in baby food prices by 1.2%.
Of the 32 categories that showed an increase, the most important were greens with 25.3%, frozen fish 2%-5.5%, sugar 3.7%, coffee 3.3%, water 3.3% and other products at a lower rate.
It is reiterated that the Consumer Protection Service continues intensively the checks on the implementation of the zero VAT rate measure, recording prices of 65 products in nine different supermarkets and, specifically, in 58 points of sale all over Cyprus.
The detailed data of the Observatory can be found below.
- Lowest, highest and weighted average price per product
- Price comparison: July 2023 - June 2023
- Price variation per product
- Price indices
The Consumer Protection Service clarifies that the Price Observatories are prepared solely for consumer information purposes and in no way constitute advice. The Price Observatories are not intended and cannot replace the market research that each consumer must do based on his own preferences, data and needs, nor do they aim to indicate to consumers the points of sale they will choose or specific products.
In particular, it should be noted that some of the products included in the Observatory suffer from differences in quality which cannot be determined. To this end, the Service encourages consumers to do substantial market research before making purchases, taking into account the results of this Observatory.
