articles | 11 August 2022

Consumers warned over imminent dairy product price inflation

Consumers are warned that a third wave of high prices is on the way – this time on milk and dairy products.

According to financial experts, farm milk prices are to increase between 30-33% and wholesale dairy prices between 14-17% in 2022.

Cypriot consumers are already struggling with rising prices and, as a consequence of inflation, there is an increase in the value of the work index but a decrease in volume, Philenews reports.

In general, the value index is increased by 20.1% and the volume by 9.3%.

For the first half of 2022, the value index is estimated to have increased by 14.4% and the volume index by 4.6%, compared to the same period in 2021.

However, only one sector was actually unaffected by the pandemic measures and that concerned food.

In the food sector, the value index increased by 7.7%, while the turnover volume decreased by 4.7% until recently. In June, due to tourism, the volume also increased by 1.3%.

Source: In-Cyprus

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