Rising costs of living extend beyond food prices, with significant increases in home maintenance services and car repairs placing additional strain on household budgets, according to new data from the Statistical Service of Cyprus.
The September 2024 figures reveal substantial price increases across various service sectors compared to both the previous year and four years ago.
Electrical services saw a 7.2% year-on-year increase in September, following rises of 9.6% in 2022 and 23% in 2021. Most notably, electrical service costs have surged by 51% over the past four years.
Plumbing services increased by 2.5% year-on-year in September 2024, following increases of 5.7% in 2023 and 18.9% in 2022. The cumulative increase over four years reached 28.8%.
House painters’ fees rose by 13.8% year-on-year in September 2024, after increases of 12.7% in 2023 and 15.7% in 2022, amounting to a 48.4% rise over four years.
Heating system maintenance costs increased by 5.6% year-on-year in September, with a total increase of 14.6% over four years. Carpentry services saw an 8.7% annual increase in September 2024, totalling a 50.7% rise over four years.
Regular home maintenance costs rose by 5.7% year-on-year in September, with a four-year increase of 44.9%. Residential rents increased by 4.4% annually, accumulating to a 15.6% rise over four years.
Vehicle-related expenses have also risen significantly. Car maintenance and repair costs increased by 3.6% year-on-year in September, with an 18.2% rise over four years. Tyre prices rose by 3.2% annually, showing a 23% increase over four years, whilst spare parts prices increased by 4.6% year-on-year in September.
Car lubricant prices showed a modest 0.2% annual increase in September but have risen by 34.1% over four years. Car insurance premiums increased by 4.1% year-on-year, accumulating to a 12.8% rise over the four-year period.
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