Prices have decreased in 26 of the 45 consumer product categories monitored by the Consumer Product Price Observatory for the month of September 2023.
According to a statement, the assessment made for the month of September shows that although inflation continues the upward trend of previous months, reaching 4% compared to 2,6% in August and 1,5% in July, and inflation in the sector of food was maintained in the period January - September at the same high level of 9,13% compared to the corresponding period last year, prices in 26 of the 45 categories monitored show decreases.
These decreases, it is noted, mainly reflect the restraint recorded by the Statistical Service for food during the month of September compared to the previous month, with an increase of 0,86% against 1,91%, which is due to the restraint of increases in argicultural products.
As reported, in a total of 45 categories of basic products, 26 categories recorded a decrease, the main ones in toilet paper by 18,3%, baby diapers by 3,8%, fresh meat by 3,4%, frozen breaded/precooked fish by 3,4%, Cypriot coffee by 3,1%, tomato juices/pastes by 2,5%, purguri by 2,7%, eggs by 2,2% and sanitary napkins by 2%.
Among the remaining categories, a significant increase was recorded in greens by 17,5%, frozen molluscs and shellfish by 14,3%, fresh and frozen fish by 4,4% and 4,1% respectively, gas cylinder by 3,1 %, biscuits by 2,4%, frozen meatloaf by 2,4% and other products at a lower rate.
It is reiterated that the Consumer Protection Service is intensively continuing the controls regarding the implementation of the zero VAT rate measure, recording prices of both the seven categories of products approved in the first phase, as well as the four new categories, in nine different supermarkets at 58 points for sale all over Cyprus.
Today's assessment of the implementation of the measure based on the results of the audits, it is noted, is that this had a positive effect on prices and inflation, since in approximately 77% of products the prices have remained at the levels of May 5, when the measure was implemented zero/reduced VAT rate measure.
The Consumer Protection Service clarifies that Price Observatories are prepared solely 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 which points of sale to choose or specific products.
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 specific Observatory.
The Observatory's detailed information is provided on the website of the Consumer Protection Service.
KYPE