NewsLocalA 10% consumer price index increase expected to be announced in June

A 10% consumer price index increase expected to be announced in June

As the war in Ukraine spreads shocks through markets worldwide Cyprus’ Statistical Service is expected to announce in June a consumer price index increase of 10 per cent.

The highest recorded increases, so far, are the following: 32.32% for liquid fuel, 33.13% for passenger air transport, 35.86% for fresh vegetables and 18.93% for electricity.

At the same time the average increase in basic food commodities stands at 10% with bakery products even exceeding this percentage.

That’s why all eyes are now focused on Friday’s special ministerial meeting called by President Nicos Anastasiades in a bid to exchange views on how to alleviate the pain from constantly rising prices.

Opposition parties and organised consumers keep sending the message that households are under extreme pressure, unable to pay shockingly higher electricity bills and petrol. And that a home keeper’s basket is getting harder and harder hard to fill these days.

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