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31. Cypriots pack bags for record-breaking 2023 getaways

Cypriots are preparing suitcases for abroad, taking advantage of the short holidays offered by the Christmas and New Year celebrations....

32. Cyprus reports significant drop in joblessness

The latest data released by the District Labour Offices indicate a notable decline in registered unemployment rates for November 2023, both on a monthly and on a yearly basis....

33. Declines in kerosene and heating gasoil offset by surges in aviation fuel sales

Sales of Cyprus’ petroleum products recorded a 1.3% decline in October 2023, totaling 130,677 tonnes, marking a downturn compared to the same month in 2022....

34. Cyprus rcords remarkable 17.4% decrease in registered unemployed

In October 2023, the number of registered unemployed persons in Cyprus exhibited a significant decline, marking a 17.4% decrease, equivalent to 1,951 individuals, as reported by the Statistical Office. ...

35. Government to expand workforce in 2024

In the 2024 budget, authorities anticipate total general government revenue of €13.2 billion and expenditures of €11.8 billion, resulting in a fiscal surplus of €659 million, equal to 2.2% of GDP. ...

36. Tourists spend over €1.5 billion, setting new high

The most recent data from the Statistical Service regarding tourism revenues are confirming expectations, as expressed by Deputy Minister of Tourism Kostas Koumis in a recent interview with "K". It appears that this year could potentially set a new record for tourism revenues....

37. How high is too high before tax relief kicks in?

Diesel prices have dipped by nine cents per liter at gas stations compared to late August, while unleaded 95-octane petrol is now six cents cheaper....

38. Cyprus inflation skyrockets to 3.1% in August

The annual inflation rate in Cyprus saw a rise to 3.1% in August 2023, up from 2.4% in July....

39. Cyprus building permits dip 7.4%

Building permits issued in Cyprus in the first half of 2023 dropped by an annual 7.4%, with the value of the permits rising by 16.5% and the total area by 3.0%, data released by the Statistical Service of Cyprus show....

40. Unemployment drops in August 2023

The number of registered unemployed persons decreased in August 2023, both on an annual and monthly basis, according to data released on Tuesday by the Statistical Service of Cyprus....

41. Food costs soar, greens up 25.3%, fish dip by 15%

Increases were noted in 32 out of 45 categories of essential consumer products in the Consumer Product Price Monitor for July 2023, according to the Consumer Protection Service....

42. Cyprus inflation drops from 10.6% to 2.4%

The annual inflation rate in Cyprus was 2.4% in July 2023 (dropping from 2.8% in June 2023 and from 10.6% in July 2022), while also dropping to 5.3% in the eurozone (from 5.5% in June and 8.9% in July 2022), and to 6.1% in the EU (from 6.4% in June and 9.8% last year), according to figures published by Eurostat, the statistical office of the European Union....

43. Cyprus faces deceleration amid inflation and rising rates

Cyprus' economy experienced a slowdown in the second quarter of 2023, prompting inquiries about the situation. According to the preliminary estimate provided by the Statistical Service, ...

44. Tourism sets record revenue with fewer arrivals

The latest data on tourism revenues for the month of May has brought encouraging news for the tourism sector, signaling positive effects on the Cypriot economy....

45. Unemployment sees significant drop, down by 6.8% in July 2023

The unemployed persons, registered at the District Labour Offices on the last day of July 2023, reached 13,187 persons, with their number decreasing by 958 persons or 6.8%, compared to July 2022, according to data published by the Statistical Service of Cyprus on Thursday....

46. Tourism revenue up by over 40%

A significant increase of 40.7% on an annual basis was recorded in tourism revenue, based on the results of the Traveler Survey of the Cyprus Statistical Service....

47. A disturbing surge in incidents reported to helpline 1480

Incidents reported to Helpline 1480 during the second quarter of 2023 have seen a notable increase of 47.97% compared to the same period in 2022, according to statistics released by the Ministry of Education on Wednesday....

48. Fuel prices plummet while food costs soar

Liquid fuels experienced the most significant annual percentage decline in June, dropping by 27.2%. Contributing to a 1.9% inflation squeeze, the lowest point in 25 months, was a 25.6% annual decline in oil prices....

49. Unemployment reaches 17-month low

Recent data, adjusted for seasonal variations, reveals that the number of registered unemployed individuals in June 2023 has hit its lowest level in the past 17 months....

50. European stocks rally on hope of interest rate peak

Eurozone inflation fell more than expected to 5.5 percent in June, its lowest rate since the start of last year, but a slight rebound in core consumer price growth tempered any relief for policymakers....

51. Understanding price levels in Cyprus and how they compare to the EU average

According to the latest data from Eurostat, the statistical service of the European Union, the price levels for household expenses in Cyprus were 91% of the EU average in 2022....

52. Construction materials prices stabilize as index drops in May

Construction materials prices started to stabilize in Cyprus, with the Price Index of Construction Materials decreasing 0.06% in May, compared to April, according to data published by the Cyprus Statistical Service on Monday. The Price Index of Construction Materials for May 2023 reached 135.51 units (base year 2015=100)....

53. Annual inflation drops in Cyprus, eurozone, and EU compared to April

The annual inflation rate was 3.6% in Cyprus, 6.1% in the eurozone and 7.1% in the EU in May 2023, according to figures published by Eurostat, the statistical office of the European Union. ...

54. Registered jobless numbers drop in May indicating declining unemployment

According to data from the Provincial Labour Offices, the number of registered unemployed individuals at the end of May 2023 decreased to 10,357 persons, marking a decline compared to both the previous month and May of the previous year....

55. Sales of halloumi are increasing

The registration of halloumi cheese as a protected designation of origin product has proven to be beneficial. This is demonstrated by the latest data from the statistical service regarding exports, as well as sales in the Cypriot market....

56. January 2023 sees significant surge in building permits

The total value of building permits in January 2023 increased by 45.8%, compared to January 2022, according to data published by the Statistical Service on Friday. At the same time, the total area increased by 28.5%...

57. Cyprus to surpass 1 million people while EU population to decrease by 6% by 2100

According to the latest population projections issued by Eurostat, the statistical service of the EU, the population of the bloc will decrease by 6% between 1 January 2022 and 1 January 2100, equivalent to 27.3 million fewer people. The population of Cyprus on the other hand is expected to pass 1 million by 2100....

58. High prices continue to plague the market

59. Petrol stations open their doors to electric mobility

Petrolina Holdings Public announced last month the installation of the first state-of-the-art electric vehicle rapid charging charger at its petrol station in Larnaca's GSZ district....

60. Tourists are spending 13% more in Cyprus

If there is one thing that has changed in the past year's data on the tourism industry, it is the realization that, even though there are fewer visitors coming in than in 2019,...