Prices on everyday consumer goods rose by up to 9.8% during the second half of May, the Cyprus Consumer Association has found, with 165 price variations recorded across 34 product categories.
Sauces and dressings, eggs, soaps, cheeses, yoghurt, tissues, and personal hygiene products were among the hardest-hit categories, according to the Association.
A pack of mayonnaise rose by 34 cents overnight, a rise of 9.8%, while a box of 12 eggs increased by 29 cents, or 7.4%. The largest absolute rise was on infant formula, up 45 cents, though that represented a smaller percentage increase of 2.5%.
The period also saw 133 price reductions, averaging 9.4%, the Association said.
The findings are based on prices from the Ministry of Energy, Commerce and Industry’s e-kalathi platform and the free private app smart kalathi, comparing each product’s average daily price against the previous day’s average.
The Association noted that some products saw prices rise and then fall again within a short period, and said the reasons behind such movements warranted investigation.
“The big question is why prices rise on some products and fall on others. General market conditions do not differ greatly between products whose prices went up and those whose prices went down,” the Association said, calling for an in-depth investigation into the causes of the increases.
The Cyprus Consumer Association said it will continue monitoring consumer goods prices and publishing its findings transparently.
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