Cyprus Consumers Association reports price fluctuations in late May

During the second half of May, the Cyprus Consumers Association identified 165 price increases and 133 price decreases across 34 product categories. The data, sourced from the Ministry of Energy, Commerce and Industry's e-kalathi and the smart kalathi application, compared daily average prices. Price hikes reached up to 9.8%, particularly affecting sauces, dressings, eggs, soaps, cheeses, yogurt, tissues, and personal hygiene items. Notable examples include a 9.8% rise in mayonnaise prices and a 7.4% increase for a dozen eggs. While baby formula saw the largest absolute price jump at 45 cents, this represented a 2.5% percentage increase. Some reports indicate an average increase of 11.8% for items that rose in price, while the average decrease for those that fell was 9.4%. The association highlighted instances where prices increased and subsequently dropped shortly thereafter. Officials are calling for an investigation into the causes of these market disparities, as general market conditions remain consistent.