articles | 08 February 2017

Basic goods cheaper in January 2017

After almost 4 years of deflationary pressures, prices for many basic goods in Cyprus have dropped a significant amount.

Comparing the prices of basic groceries needed for the everyday dinner table, but also basic goods suchas electricity, and medical treatment, it is revealed that prices have dropped, sometimes over 30% since 2013.

In comparison with January 2013, the first month of 2017 saw a decrease of over 30% in prices for bread and cereals, while the largest decrease is recorded in electricity. Basic goods such as milk and meats decreased beyond 25%, while the health sector saw a 20% decrease in prices.

There was also a 26% decrease in prices for milk, cheese and eggs, while for fruits and vegetables the prices decreased by 14%.

Prices for electricity dropped 56% within four years, while liquefied gas prices dropped 44.4%.

Provision of medical services dropped by 33%, while pharmaceutical products decreased by a marginal 4%.

The only sector in which prices have increased since 2013 are vehicles. Their prices increased by 21.7%. Despite this, the sale of vehicles has increased for a third year in a row.

Source: InCyprus

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