The coronavirus pandemic in Cyprus boosted food, clothing and footwear prices, while prices of fuel, electricity and internet services fell.
According to a graph prepared by the Statistical Service of Cyprus on how the prices of goods and services were affected, a year after the appearance of the coronavirus in Cyprus in the categories Food (excluding fresh fruits and vegetables) there was a relative increase in prices during the first period March - May 2020 (1,19%) compared to the corresponding period of the previous year. Then prices stabilized. Specifically, in the period June - November 2020 an increase of 0,48% was recorded, while in the period December 2020 - February 2021 a decrease of 0,47% on an annual basis. Regarding Fast Food in the period March - May 2020 there was an increase of 0,61%, in the period June - November 2020 an increase of 0,14% and in the period December 2020 - February 2021 a negligible decrease of 0,01%
The prices in the Clothing and Footwear category, during the period March - May 2020, showed a decrease of 2,95% compared to the corresponding last year, when the physical premises were closed and only electronic or telephone orders could be placed. During the period June - November 2020 an increase of 1% was recorded and during the period December 38 - February 2020 an increase of 2021% compared to the corresponding periods of 1,36.
In the Air Tickets category, prices decreased during the first two periods, while in the third period, prices increased. Specifically, in the period March - May 2020 there was a decrease of 6,37%, in the period June - November 2020 a decrease of 19,19% and in the period December 2020 - February 2021 an increase of 4,75%
Electricity prices showed a slight increase of 2020% in the period March - May 1,48, a decrease of 2020% in the period June - November 20,27 and a decrease of 2020% in the period December 2021 - February 13,67. For the calculation of Electricity was included the reduction of 10% of the price of electricity, applied by the Cyprus Electricity Authority for the period April-September 2020.
Regarding fuel prices in the period March - May 2020 there was a decrease of 13,05%, in the period June - November 2020 a decrease of 11,53% and in the period December 2020 - February 2021 a decrease of 9,59%
In the category Internet access (home use) a decrease in prices was recorded, with a parallel upgrade of internet access speeds. In the period March - May 2020 there was a decrease of 5,79%, in the period June - November 2020 a decrease of 9,14% and in the period December 2020 - February 2021 a decrease of 11,35%.
Source: KYPE
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