Prices for fresh produce in Cyprus defied government efforts to curb inflation, data from the Consumers’ Association showed on Friday, with vegetables and fruits rising 21.53% and 16.82% respectively in May compared to April.
The increases came despite a zero Value Added Tax (VAT) rate imposed by the Ministry of Finance to shield these categories until June 30. The Consumers’ Association warned that the removal of this measure could exacerbate price hikes, adding to pressure on household budgets already strained by rising fuel costs, rents, and mortgages.
On an annual basis, vegetable and fruit prices rose 9.40% and 2.39% respectively. Olive oil prices saw the third-highest monthly increase, surging 65.20% year-on-year and 2.01% from April.
Accommodation, including hotels, motels, and inns, witnessed a 10.68% monthly rise and 7.17% annual increase, while airfares climbed 8.94% monthly and 3.49% annually.
Other products with monthly price increases included flour and cereals (2.49%), rice (2.08%), and pork (1.50%).
However, some items saw price drops in May compared to April. These included mineral waters (-1.09%), milk, cheese, and eggs (-1.46%), fruit and vegetable juices (-1.46%), and soft drinks (-1.48%).
