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Home News Economy

Drousiotis: Food prices remain high despite the reduction in inflation

Famagusta News by Famagusta News
16/10/2024
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At a much greater level are the price increases in food, which is the basic category of products that the consumer needs, compared to the increases in other products, the President of the Cyprus Consumers' Association, Marios Drousiotis, states to KYPE, while mentioning that it can inflation has subsided, but prices remain high.

At the same time, Mr. Drousiotis reports that the increases in fuel prices have begun and will continue throughout the week.

In particular, referring to the latest data on the general accuracy of the Statistical Service, which also includes the month of September, Mr. Drousiotis said that from these data it appears that prices "not only remain stable at high levels, but month by month they rise even a little ».

"Several reports say that inflation has fallen, and it's true. This does not mean that the prices have fallen, which remain at those high levels that existed in the past months as well", he underlined.

He also said that the only difference with the decline in inflation is that overall prices are "rising a bit more than last month", adding, however, that "prices remain at very high levels and are unaffordable for a large part of the population, who suffers".

"The main thing for me is that the price increases are observed at a much higher level in the food category," he said and added that "the basic category of items, food, which is needed by the consumer, is increasing at a higher rate than the other categories products and this affects consumers a lot."

The President of the Cyprus Consumers' Association said that "the food sector, over time and month after month, always shows the greatest increase, compared to all other sectors".

Asked whether there will be an increase in prices in other sectors, Mr. Drousiotis told KYPE that in fuel, "after about two months, where there was a decrease in prices little by little, the increase started timidly last week".

"And today they have increased fuel prices and they will continue small increases throughout the week," he said, adding that he does not know what will happen to prices after new loads arrive.

Finally, Mr. Drousiotis said that "it must be emphasized that, unfortunately, we do not see a ray of salvation in electricity for a price reduction, neither in the immediate nor in the medium-term future".

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