Newsroom
Consumers felt the pinch in January as the prices of 26 staple products rose, with 11 categories jumping by more than 3%, according to the latest Consumer Product Price Watch. The steepest price hikes were recorded for frozen fish (+16.3%), koulouria (+11.2%), frozen mollusks and shellfish (+8.2%), and flour (+8.0%).
At the same time, 18 product categories saw price drops, including sugar (-16.8%), fresh vegetables (-7.5%), fresh meat (-5.5%), and cheese (-3.4%). The fluctuations were recorded by the Consumer Protection Agency under the Department of Commerce, Energy, and Industry, which tracks daily sales data from 400 retail outlets nationwide.
Food Costs Remain a Concern
While overall inflation in January stood at 2.5%—similar to December’s 2.6%—food prices remained a significant driver of costs, rising by 4.8% year-over-year. Restaurants and hotel prices also increased by 4.1%, impacting household budgets further.
The report showed that while frozen fish saw the highest month-to-month increase, prices were actually 0.3% lower than in January 2024. Similarly, koulouria and frozen shellfish were cheaper compared to last year, but products like baby food (+11.5%) and Cypriot coffee (+11.3%) saw notable price hikes over the past 12 months.
On the flip side, fresh vegetables, despite a monthly dip of 7.5%, remained 69.8% more expensive than in January 2024, reflecting the impact of supply chain disruptions and weather conditions.
Consumers Urged to Compare Prices
In its statement, the Consumer Protection Agency emphasized that while its reports provide a broad picture of market trends, they do not replace individual price comparisons. "The Observatory is meant to inform, not to dictate purchasing decisions," it said, urging shoppers to conduct their own market research before making purchases.
Additionally, ahead of the launch of the new digital price-tracking platform "e-kalathi," the agency conducted a separate price comparison for 27 household essentials across five supermarkets in Nicosia on February 18. The results, which highlight supermarket price variations, are available on the agency’s website.
