Cyprus saw inflation accelerate to 2.6 percent in December from 1.5 percent in November, driven largely by rising food prices and hospitality costs, the Consumer Protection Service reported in its latest price observatory.
Food and non-alcoholic beverages jumped 7.6 percent compared to December 2023, while restaurants and hotels saw a 4.4 percent increase year-on-year, according to the monthly survey covering 250 basic consumer products across 400 retail outlets nationwide.
Agricultural products recorded the sharpest rise, surging 16.8 percent year-on-year and 2.6 percent month-on-month, affecting fresh vegetables, meat, and fish prices.
Vegetables saw the steepest increase, rising 30.7 percent from November and 38.8 percent year-on-year.
Fresh fish prices climbed 9.2 percent month-on-month and 24.7 percent annually, while fresh meat increased 8.0 percent and 6.8 percent respectively.
Despite these increases, 31 out of 45 basic product categories showed price decreases. Notable falls included bread rolls, down 10.0 percent month-on-month, cooking oil dropping 8.3 percent, and flour declining 7.6 percent.
The monthly price observatory, which surveys supermarkets, bakeries, and convenience stores across Cyprus, aims to provide consumers with comparative retail pricing data, the service said.
