Cost of living in Cyprus rises by over 700 euro within past five months

[memory man]

The cost of living in Cyprus has risen by over €700 within the past five months, according to latest data provided by expatistan.com

And this is basically due to the coronavirus pandemic and Russia’s recent invasion in Ukraine which has prompted an alarming rise in the price of oil, grains and products of primary needs.

This is why the Ministry of Finance had to revise forecasts for inflation in 2022, raising it to 4% compared to 1.5% which was the initial estimate.

Consumers who have begun noticing more and more the price increases are calling on the government to take all possible measures.

Specifically, the average monthly cost of a family of four reached € 3,964 in mid-March compared to € 3,241 at the end of October 2021.

In other words, within a few months the monthly expenses of a family of four increased by €723.

Moreover, the cost of living per person in Cyprus now rose to €2,192 compared to € 1,461 in October.

Essentially, expenses for one person increased by €731 within five months.

https://in-cyprus.philenews.com/cost-of ... ve-months/

[jeba]

Specifically, the average monthly cost of a family of four reached € 3,964 in mid-March compared to € 3,241 at the end of October 2021.

In other words, within a few months the monthly expenses of a family of four increased by €723.

That sounds ridiculous. If it was true, there would be a major famine already.

[Dominic]

The article is bunk. If you go the site itself, it has this to say about Nicosia (they had no data on Paphos):

Summary of cost of living in Nicosia
Family of four estimated monthly costs: €2,916
Single person estimated monthly costs: €1,235

WARNING! These estimates are based on only a few data points. At the moment, you should treat them only as a best guess.

The key point is the last line.

https://www.expatistan.com/cost-of-living/nicosia

16 euro for table wine? Is that how much it costs these days?

[kansas]

It really does depend on what you buy on a regular basis. We eat the local food and produce and haven't noticed any real difference.

[trevnhil]

We too eat a lot of local produce, but we have noticed an increase especially in some vegetables..

[Devil]

I think that the original article on this thread is based on a very wide range of goods, mostly food of all types, that the government uses as a yardstick (should that not be metrestick?).

[Dominic]

Devil, its based on pysh, dreampt up to follow an anti Putin narritive to cover the ineptitude and corruption of the so called leaders before the war.

The vast majority of these apparently highly skilled journalists simply regurgitate the party line spouted by the relevant agency.

You really need to lay off the sauce.

[PhotoLady]

And yet a few days ago, didn't I see another thread about how Cyprus had been highlighted as one of the best, cost wise for tourism?