The supermarket products with the largest price increases

Large price increases in frozen fish, greens and sugar and smaller increases in 38 of 45 other categories, have been reported in the Consumer Protection Agency's Consumer Staples Watch for June 2023, compared to June 2022.

In contrast, compared to the previous month small decreases are recorded in 29 of the 45 categories.

Specifically, the price of frozen fish increased by 61.5% compared to June 2023, greens by 52.7% and sugar by 38%. The price of frozen breaded fish also increased by 22.2%, while the price of evaporated/sweetened milk increased by 21.8%.

The price of tomato juice increased by 18.75% and frozen meat by 17%. Prices for instant and Cypriot coffee increased by 11.3% and 8.5% respectively. An increase of 14.4% was recorded in the price of fresh meat and 11.6% in the price of cold cuts.

Despite the fact that in June 2023 there was zero VAT on eggs, milk and baby food, their prices have increased compared to last year by 14.8%, 4.2% and 13.3% respectively.

In non-food, the price of toilet paper increased by 14.8%, softener by 11.8% and laundry detergent by 7.7%.

A decrease compared to June 2022 was recorded in the price of oil by 18.6%, of frozen molluscs by 5.8%, the sale price of baby diapers - from which VAT was removed - by 4.3% and in the price of gas cylinders by 3.2%.

There were also some decreases when prices for June 2023 were compared to those in May 2023. In a total of 45 categories of basic products, 29 categories recorded a decrease, the main one being the price for gas cylinders by 9%, oil by 6%, prices for frozen molluscs by 5%, pulses by 3.6%, rice 3%, fresh fish by 2.6%, sugar by 2.4%, cheese by 2%, flour by 1.7%, pasta by 1.4% and fresh milk by 1%. Prices also fell for toilet paper by 3.4%, fabric softeners by 1.5%, baby milk by 1.8%, baby diapers by 1% and sanitary napkins by 1%.

Compared to May, greens/vegetable prices increased by 6.6%, tomato juices by 5.8%, fresh and frozen prices by 3.2% and 2% respectively, eggs by 1.4% , water 1.2% and baby food prices 0.9%.

In its announcement, the Consumer Protection Service states that it is continuing intensive checks regarding the implementation of the measure of the zero VAT rate, recording prices of 65 products, in nine different supermarkets and 58 points of sale throughout Cyprus.

"After the last recording on 6 July, 2023, it was found that the measure is being implemented with a significant benefit for consumers since more than 80% of the products saw price reductions equal to or even greater than the rate," says the Service, which urges the consumers to do substantial market research before proceeding with purchases, taking into account the results of the specific Observatory.

(Source: InBusinessnews)