Seafood and oil prices climb sharply in May, fresh vegetable prices drop

Significant monthly increases were recorded in May in the prices of frozen mollusks and shellfish, as well as in oils, eggs, and fish. At the same time, there was a notable decrease in the prices of fresh vegetables and baby nappies.

The Consumer Protection Service reported that, according to CySTAT, May saw a significant drop in the inflation rate, which reached deflationary levels at -0.2%, compared to +0.2% in April and +1.6% in March. The largest annual changes were observed in Petroleum Products (-12.8%), Electricity (-8.6%), Agricultural Products (+4.7%), and Services (+3.5%).

The May 2025 Consumer Product Price Observatory, prepared by the Consumer Protection Service, presents the average weighted price for 250 basic consumer goods as sold across 400 retail stores nationwide. The fluctuations recorded by CySTAT are largely reflected in the May Observatory data, which shows that, out of 45 categories of basic goods, 31 categories recorded increases, 11 categories recorded decreases, and three categories (stock cubes, canned fish, and toilet paper) showed no change.

Specifically, frozen mollusks and shellfish increased by 24.9% compared to the previous month and by 17.6% compared to May 2024. In the same month, oil prices rose by 9.4%, although a 2.3% decrease was recorded compared to last year. Egg prices rose by 5.5% (3% compared to last year), vegetable cooking fat by 5.2% (1.2% compared to May 2024), and frozen fish by 5.1%, although a 8.9% decrease was recorded year-on-year.

Smaller monthly increases were observed in the prices of flour (4.9% compared to April 2025, 1.7% compared to May 2024), rice (4.4% and 1% respectively), baby food (4%), which marked a 10.8% increase year-on-year, and Cypriot coffee (3.2%), which is up 29.2% compared to last year.

On the other hand, 11 categories recorded monthly price decreases, most notably fresh vegetables and greens, down by 35.7% (and 26% compared to May 2024), baby nappies by 20.7% (-24% compared to May 2024), fresh meat by 7.3% (-0.6% year-on-year), fresh fish and mollusks by 4.3% (though up 5% compared to May 2024), gas cylinders by 4.2% (+4.2% compared to May 2024), and sugar by 1.4%, which is down 16% year-on-year.

(Source: CNA)