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Inflation Pushes Up Prices For Key Consumer Goods In Cyprus

In May, prices for several essential consumer goods increased as inflation continued to affect household budgets. According to the consumer protection service’s price observatory, which tracks the weighted average price of 250 basic products across 400 retail outlets nationwide, a number of categories recorded notable increases.

Sharp Rise In Key Food Categories

Cold cuts recorded one of the biggest monthly increases, rising by 6.4% from April and 9.2% compared with a year earlier. Prices for frozen breaded and pre-cooked fish rose by 6.3% month-on-month, although they remained 15.3% lower than a year ago. Frozen molluscs and shellfish also became more expensive, climbing 6.1% from April despite being 10.9% below last year’s levels.

Broad Impact Across Multiple Essential Items

Higher prices were also recorded across several other categories. Oil prices increased by 5.8% compared with April, while canned meat rose by 5.4% month-on-month and 7.3% year-on-year. Traditional Cypriot coffee was up 5.1% from the previous month and 5.8% from a year earlier. Baby food prices increased by 5.1% monthly and 10.9% compared with May 2025. Eggs, flour, laundry detergents, frozen pasta, soft drinks, toilet paper, and yoghurt also registered increases.

Selective Price Declines Offer Some Relief

Some categories, however, recorded lower prices. Fresh vegetables and greens fell by 24.3% compared with April, although prices remained 24.9% higher than a year earlier. Modest declines were also recorded for fresh fish, molluscs, and meat, while sugar prices remained largely unchanged despite a slight monthly decrease.

Retail Price Comparisons And Consumer Guidance

Figures from the government’s e-kalathi platform showed that the price gap between the most expensive and cheapest supermarkets narrowed slightly in June. A basket containing 253 common products cost €1,080.72 at Philippos and €972.10 at Sklavenitis, representing a difference of 11.2%.

The observatories are intended to provide information to consumers. Shoppers are encouraged to carry out their own comparisons before making purchases, taking into account quality, individual needs, and their available budget.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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