NewsLocalConsumers warned over imminent dairy product price inflation

Consumers warned over imminent dairy product price inflation

As if the current inflation is not high enough consumers are warned that a third wave of high prices is on the way – this time on milk and dairy products.

Farm milk prices are to increase between 30-33% and wholesale dairy prices between 14-17% in 2022, according to financial experts.

Cypriot consumers are already struggling with rising prices and, as a consequence of inflation, there is an increase in the value of the work index but a decrease in volume, Philenews reports.

In general, the value index is increased by 20.1% and the volume by 9.3%.

For the first half of 2022, the value index is estimated to have increased by 14.4% and the volume index by 4.6% compared to the same period in 2021.

However, only one sector was actually unaffected by the pandemic measures and that concerned foodstuff.

In food, the value index increased by 7.7% while until recently the turnover volume decreased by 4.7%. In June, due to tourism, the volume also increased by 1.3%.

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