Vegetables, fresh fish and fresh meat recorded the largest monthly increases, according to the Consumer Goods Observatory for the month of December 2024, while the largest decreases were recorded in buns, oil and flour.
As stated in an announcement by the Consumer Protection Service, the Observatory presents the weighted average price for 250 basic consumer products (food and other products) based on the quantities and prices per day, at which these products were sold in 400 retail stores nationwide throughout the month.
The purpose of the Observatory is to provide the consumer with an objective comparative view of purchase prices from all retail stores, supermarkets, bakeries, bakeries, kiosks, etc.
In conclusion, the assessment made for the month of December shows an increase in the inflation rate by 2,6%, compared to 1,5% in November and previous moderate increases of 0,7% in September and 0,6% in October. This increase is mainly due to the increase recorded, compared to December 2023, by two economic categories, "food and non-alcoholic beverages" by 7,6% and "restaurants and hotels" by 4,4%. The increase in food is due to the increase in the index for agricultural products by +16,8% compared to December 2023 and by 2,6% compared to the previous month.
Despite the increases recorded in food, especially fresh vegetables and greens, fresh meat and fresh fish, the December observatory records significant decreases in most products compared to the previous month. Specifically, out of a total of 45 categories of basic products, 31 categories recorded a decrease, with 11 of them at a rate of more than 3%, while only 14 categories showed an increase.
Specifically, an increase compared to the previous month was recorded for vegetables and greens by +30,7% (+38,8% compared to December 2023), fresh fish by +9,2% (+24,7% compared to December 2023), fresh meat by +8,0% (+6,8% compared to December 2023), sugar by +5,9% (-18,2% compared to December 2023), frozen fish by +3,7% (-7,5% compared to December 2023), coal by +1,8% (-0,6% compared to December 2023), cheeses by +1,6% (-2,2% compared to December 2023) and cold cuts by +1,5% (-3,5% compared to December 2023).
A decrease compared to the previous month was recorded in 31 categories, the most significant of which were buns by -10,0% (-13,0% compared to December 2023), olive oil by -8,3% (-1,0% compared to December 2023), flour by -7,6% (-2,1% compared to December 2023), Cypriot coffee by -6,6% (+9,4% compared to December 2023), vegetable cooking fat by -6,0% (+4,7% compared to December 2023), bourbon by -4,5% (-7,2% compared to December 2023), juices by -4,2% (+5,2% compared to December 2023), baby food by -4,0% (+6,2% compared to December 2023), yogurt by -3,6% (-0,5% compared to December 2023), soft drinks by -3,4% (+1,1% compared to December 2023) frozen breaded/pre-cooked fish by -3,0% (-16,0% compared to December 2023).
The Consumer Protection Service clarifies that the Price Observatories are prepared exclusively for consumer information purposes and in no way constitute advice. The Price Observatories are not intended and cannot replace the market research that each consumer must do based on their own preferences, data and needs, nor are they intended to indicate to consumers the points of sale to choose or specific products, it adds.
It is particularly noted that some of the products included in the Observatory have quality differences that cannot be determined. For this purpose, the Service urges consumers to do substantial market research before proceeding with purchases, taking into account the results of the particular Observatory.
The Observatory's detailed information is provided on the website of the Consumer Protection Service.
