Potatoes recorded the highest monthly and annual price increase in November, according to Consumer Price Index data analysed by the Cyprus Consumers Association.
Potato prices surged by 30.61 per cent in November compared to October, whilst showing a dramatic 57.21 per cent increase from November 2023.
The inflation rate in Cyprus rose to 1.5 per cent in November from 0.9 per cent in October. Despite food prices falling by 2.26 per cent compared to October 2024, the January-November 2024 period showed a 2.96 per cent increase compared to the same period in 2023.
Beyond potatoes, November saw price increases in dried vegetables by 10.49 per cent and elderly home care services by 10.44 per cent compared to October.
Significant price decreases were recorded in fresh vegetables, excluding potatoes and other tubers, dropping by 23.14 per cent, whilst hotels, motels and inns saw a 19.93 per cent reduction.
Year-on-year comparisons between November 2023 and 2024 revealed substantial increases in potato prices (57.21 per cent), olive oil (47.47 per cent), and passenger transport (20.16 per cent).
Major price decreases were observed in sugar (23.21 per cent), liquid fuels (15.03 per cent), and garden furniture (11.94 per cent).
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Cyprus cost of living crisis persists despite easing inflation
