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- Ελληνικά
The Consumer Protection Service announces the Consumer Product Price Watch for the month of January 2024. The Observatory presents the weighted average price for 250 basic consumer products (food and other products) based on the quantities and prices per day at which these products were sold in 400 retail outlets nationwide throughout the month.
The purpose of the Observatory is to provide consumers with an objective comparative reflection of purchase prices from all retail outlets, supermarkets, bakeries, bakeries, bakeries, kiosks, etc.In conclusion, the assessment made for the month of January shows that the maintenance of the inflation rate at December levels (1.7% against 1.6%) is basically due to the large change in the clothing and footwear category of -13%, while the food and non-alcoholic beverages category recorded a positive change of 0.15%. Compared to January 2023, an increase of 2.81% was recorded in the food category, mainly due to a 4.4% increase in agricultural products. These increases are also reflected in the prices recorded by the January Observatory, in which, as detailed in Agency's table of price indices for the month of January, out of a total of 45 categories of basic products, 31 categories recorded an increase, of which 15 categories recorded an increase of more than 3%.
In particular, the most significant increases compared to December were recorded for vegetable cooking fat by 16.7%, flour by 11%, almost all frozen foods with frozen molluscs/shellfish first by 10.4%, frozen fish by 7,9%, frozen pane meat by 5.1%, frozen pasta by 3.1%, yoghurt by 5.6%, eggs by 5.4%, juices by 5.3%, Cypriot coffee by 4.4%, soft drinks by 3.9%, fresh fish/molluscs by 3.8% and oil by 3%.
Vegetables/greens decreased by 24.3%, sugar by 12.4%, fresh meat by 7.9%, purgery by 3.9%, cold cuts by 2.7%, cheese by 2.1% and pretzels by 2.1%.
As part of the continuous monitoring of the market and recording of trends, as they evolve from international and domestic conditions, the Service has again carried out on 13/2/2024 the recording of prices of 55 common and very important products for the household in 3 supermarkets in Nicosia. As shown in the comparative Observatory, the difference in value of the most expensive basket from the cheapest is 8% or €243.24 compared to €225.06 with the middle basket at €237.81. In addition, the benefit to the consumer of applying the zero VAT rate to the 11 products covered by the measure amounts to between €7.23 and €7.76 on a total purchase of around €95 depending on the supermarket.
It is reiterated that the Consumer Protection Service continues its intensive checks on the implementation of the zero VAT rate measure, recording the prices of 88 products from all categories approved in nine different hypermarkets at 58 points of sale across the country. The current assessment from the implementation of the measure, based on the findings of the audits, is that it has had a positive effect on prices and thus on inflation, since prices are being contained and in about 72% of the products prices have remained at the levels of 5 May when the measure was implemented. According to the findings of the last audit carried out on 12/2/2024, compliance is universal with rates for milk, bread, vegetables, sugar, coffee and baby diapers at 75-100% and for other products at a lower rate.
The Consumer Protection Service clarifies that the Price Observatories are prepared solely for consumer information purposes and in no way constitute advice. The Price Observatory is not intended to and cannot replace the market research to be carried out by each consumer on the basis of his or her own preferences, data and needs, nor is it intended to indicate to consumers the points of sale to choose or specific products.
In particular, it should be noted that some of the products included in the Price Observatory are subject to qualitative differences which cannot be determined. To this end, the Service encourages consumers to carry out meaningful market research before making purchases, taking into account the results of this Observatory.
The detailed data of the Observatory are provided at website of the Consumer Protection Service
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO
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