Filenews 28 October 2024 - by Theano Thiopoulou
It is not only the high prices of food that increase the financial pressure, there are other costs, which can be extraordinary but, when they occur, affect household incomes, such as the cost required to pay for services of professionals for DIY at home (plumbers, electricians, etc.) but also for car maintenance.
Data from the Statistical Service of the Republic of Cyprus reveal how much prices for services have increased, with September 2024 as the reference month, but also compared to four years ago.
The price index for electricians' services rose 7.2% in September year-on-year (vs. September 2023), compared to an increase of 9.6% in 2022 and 23% in 2022 compared to 2021. If the comparison of prices for electrician services is made four years ago, when there was no inflation in the economy, then the differences are frightening: The price increases recorded for electrician services are of the order of 51%!
The price index for plumbing services increased 2.5% in September '24 compared to September '23. But there were increases in previous years as well: an increase of 5.7% in 2023 compared to 2022 and 18.9% in 2022 compared to 2021. And in this case of professionals, prices have risen by 28.8% in four years!
The services of painters could not remain unaffected: September '24 recorded an increase of 13.8% year-on-year, compared to an increase of 12.7% in 2023 from 2022 and 15.7% in 2022 versus 2021. Prices have risen even further if compared to prices four years ago, with the rise jumping to 48.4%.
According to the Statistical Service, prices for heating system services increased 5.6% in September year-on-year, 5.9% in 2023 compared to 2022 and 2.1% in 2022 compared to 2021. Cumulatively in four years the rise in prices was 14.6%.
Prices for carpenter-cabinetmaker services were also not unaffected by accuracy, which in September '24 on an annual basis recorded an increase of 8.7% compared to an increase of 3.4% in 2023 compared to '22 and 18.4% in 2022 compared to 2021. Prices compared to four years ago jumped 50.70%.
The price increases also affected other services related to home maintenance. For example, prices for regular home maintenance rose 5.7% year-on-year in September and 44.9% in four years. Real rent prices for primary residences were also unaffected, rising 4.4% in September and 15.6% in four years.
Car expenses
It's not just the extraordinary expenses for the house, but also everything related to the car, or to be more precise, in addition to the sale prices of vehicles there are increases in their maintenance and repair: an increase of 3.6% in September and 18.2% cumulatively over four years.
According to data released by the Statistical Service, tyre prices rose 3.2% in September year-on-year, while over four years the price increase is 23%. Parts price increases are 4.6% in September year-on-year compared to a 4.3% rise in 2023 versus 2022 and a 23.1% increase in four years.
Automotive lubricant prices rose 0.2% in September year-on-year and over a four-year period price increases were 34.1%.
Prices for car insurance rose 4.1% in September year-on-year and 12.8% in four years.
