Almost 60% increase in fuel prices in 2022

Price of liquid fuels saw an increase by 58.2% from January 2022 until July 2022, according to data published by the Cyprus Consumers Association. 

According to the CCA, the biggest price increase from January until today was in liquid fuels, which rose by 58.2%, while edible oils recorded an increase by 53.54% and hotels by 51.08%.

It says that there was a significant increase recorded during this period in electricity which increased by 48.96% within seven months. Air passenger transport prices also increased, by 44.18%.

According to the data, during the same period, there was a decrease of 11.99% in fresh vegetables.

Compared to the previous month, the biggest increase in July was in air passenger transport, which increased by 24.8%, as well as in electricity, which rose by 16.73% in a month.

Meanwhile, the biggest price reduction during the same period was recorded in men's, infant and children's footwear, by 19.22% and 19.05% respectively.

It concludes by noting that according to the Statistical Service, inflation in July 2022 reached 10.9%.