In Cyprus, the Consumer Price Index data, as analyzed by the Cyprus Consumers Association, indicated that potatoes experienced the most significant monthly and annual price increase in November. The price of potatoes increased by 30.61% in November compared to October, and by 57.21% compared to November of the previous year. The overall inflation rate in Cyprus climbed to 1.5% in November, up from 0.9% in October. Despite a general decrease in food prices by 2.26% from October to November, the period from January to November saw an overall increase of 2.96% in food prices compared to the same timeframe last year.
Other notable price adjustments in November included a 10.49% increase in dried vegetables and a 10.44% rise in elderly home care services. Conversely, fresh vegetables, excluding potatoes and other tubers, saw a significant price drop of 23.14 percent, and the accommodation sector, including hotels, motels, and inns, experienced a decrease of 19.93% in prices. Year-on-year data from November also highlighted a 57.21% increase in potato prices, a 47.47% rise in olive oil prices, and a 20.16% increase in passenger transport costs. On the other hand, sugar prices fell by 23.21%, liquid fuels by 15.03 percent, and garden furniture by 11.94%.
Source: philenews