Nicosia, Cyprus. More products became cheaper than more expensive on the e-kalathi price tracking platform during the second half of July, according to the Consumers Association, although significant price differences between supermarkets persisted.
Between July 16 and 31, prices rose for 805 products by an average of 10.6 per cent, while 908 products recorded average price reductions of 11.9 per cent.
Category price movements
The association said the figures showed sharp price movements in both directions rather than a uniform increase across the grocery market.
The largest category-level increase was recorded in frozen pasta and pizzas, where prices rose by 7.6 per cent. Fruit juices increased by 6.6 per cent, while chocolates and pasta each rose by 6.3 per cent.
Supermarket price differences
The association said price discrepancies among supermarkets participating in the e-kalathi platform remained significant.
It said that, in most participating supermarkets, the differences were so large that they did not appear to indicate intense competition.
A July 31 survey covering 177 products available at 12 supermarkets found a 15.8 per cent difference in their average total cost.
Among the five supermarkets offering the largest number of products on the platform, a comparison of 327 common products found a 7.6 per cent difference in total cost.
Inflation
The findings come as price pressures remain elevated across the wider economy.
Cyprus’ annual harmonised inflation rate was estimated at 4 per cent in July, down from 4.1 per cent in June but above the 0.1 per cent recorded a year earlier, according to Eurostat’s estimate.
