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08-04-2021 14:03

Prices and COVID-19

How has the corona virus pandemic affected the prices of basic goods and services during the last year in Cyprus?

The Statistical Service publishes an infographic that presents the percentage change in the prices of important categories of goods and services, for three different time periods compared to the corresponding periods of the previous year. The time periods correspond to the different precautionary measures put in force during last year, to address the negative consequences of covid-19 disease, as follows: March-May 2020 (first period), June-November 2020 (second period), December 2020-February 2021 (third period).

The main conclusions can be summarized as below:

  1. In the categories Food (excluding fresh fruits and vegetables) and Fast Food, a small increase in prices was observed during the first period of comparison, while afterwards the prices remained stable.
  1. The prices in the category Clothing and Footwear, recorded a decrease during the first period (the physical premises were closed while on-line or telephone orders could be made). During the second and third periods, prices recovered.
  1. In the category Air Tickets, there was a decrease in prices during the first two periods, while in the third period prices increased.
  1. Prices of Fuels and Electricity decreased in all the three periods (the 10% reduction on  electricity price, applied by the Cyprus Electricity Authority for the period April-September 2020, was included).
  1. In the category Internet Home Access a decrease in prices was recorded, while the speed of internet access has been upgraded.

Related Infographic

Prices and COVID-19