NewsLocalRising cost of food in Cyprus to peak in next two months

Rising cost of food in Cyprus to peak in next two months

The rising cost of food in Cyprus will peak in the next two months with prices expected to be sustained rather than fall, Philenews reported on Wednesday.

Households will be hit hard since food items essential on a daily basis will be supplied at a much higher price, it added.

The alarming rising market cost of animal feed but also of cereals intended for human consumption not only has it not stopped but the message sent is quite  discouraging.

Cereal prices, which in the same period last year were at €180 per ton, were at €230 in August and reached €270 in September. As for new consignments, these are pre-purchased at €320 per ton and with an increasing trend.

At the same time, shipping transfers have skyrocketed and the situation does not appear to be improving.

 

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