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Next Previous Accuracy, prices in basic goods and wages (tables) HOME • INSIDER • CYPRUS • Accuracy, prices in basic goods and wages (tables)
& nbsp & nbspPanikos Charalambous & nbsp; & nbsp;
With precision galloping, what we all wonder is how far it can go and when it will stop. Also, whether, when and if the situation normalizes, prices will return to previous levels. Although the general impression is that prices go up easily and hardly or almost rarely go down, the numbers and data show that things are not perfect. They show that prices usually follow market conditions and the rules of supply and demand. The difference with the current crisis, which is the product of two consecutive different global events (pandemic and Russian invasion of Ukraine – & nbsp; measures against Russia), is that they have caused a third crisis, the energy crisis, which is so closely linked to geopolitical games and major international interests, that any prediction of developments would be unrealistic.
At the local level, significant increases in the prices of basic goods have been recorded in recent months, and the unfortunate thing is that these increases will continue. This is an imported inflation, with simultaneous local “injections”. There are, however, cases where price increases can not be justified by anything. Something that legitimizes us to wonder where the competent authorities are. At the same time, wages are being significantly pushed, with the result that many of our fellow citizens are now finding it difficult to have even basic goods and services.
Price spike and Cypriot household
According to the European Statistical Office – & nbsp; Eurostat, with a reference year of 2020, the Cypriot household spends almost one fifth of its income on housing, water, electricity, LPG and other fuels (23.5%), on transport 13.1% and 13% in food and non-alcoholic beverages. It is also observed that the share of food in the family budget increases as the household income decreases. In general, however, about 50% of a Cypriot household spends on food, housing and transportation. In all three categories, prices have risen sharply.
. According to the data of the Statistical Service and with reference month in April, in 2022 the prices of vegetables compared to April 2016 increased by 60.56%. In April 2016 we had the lowest prices in vegetables for the last 12 years.
● In fresh fruits the prices between 2011 – & nbsp; 2022 increased by 27.17%.
● prices of potatoes in April 2022 compared to April 2018 increased by 71.96%. In April 2018, we had the lowest prices of potatoes in the last 12 years.
● Prices for bread in April 2022 were increased by 17.27%, compared to the corresponding month of 2018.
τιμές Prices for fresh whole milk in April 2022 were increased by 11.84 % and semi-fat by 10.62%, compared to April 2011.
● Prices of pork in April 2022 were increased by 17.27%, compared to the corresponding month of 2016.
Τιμές Poultry prices in April 2022 were increased by 14.59%, compared to the corresponding month of 2021.
“Burn” energy and fuel
In the case of energy and fuel, the increases are huge. In April the price of electricity in April 2022 was increased by 60.16%, compared to April 2018 and by 44.7% compared to April 2011.
In LPG, the price in April this year is increased by 57.16%, compared to the corresponding month of 2020 and by 32.97%, compared to April 2011.
In liquid fuels the situation is even worse. Prices in April 2022 are increased by 72.47% compared to April 2016 and by 32.62% compared to the corresponding month of 2011.
Cucumber like the … caviar & nbsp;
Prices have grown rapidly in recent months. Based on the comparison of prices in 40 basic products, between September 2021 and April 2022, only in one the price remained the same. This is halloumi. The prices of the rest increased. Based on the price observatories prepared by the Consumer Service and published on 13 April 2022 and 8 September 2021, among others, the prices of the following goods increased: Bread, fresh milk, vegetables, meat, rice, legumes, pasta and oils. & nbsp;
By category and product, prices of breads have risen by about 20 cents, fresh milk by 10 cents, cheeses by up to 1.5 cents, potatoes by around 35 cents, cucumbers by two and more euros (this particular vegetable has recorded prices over 4 euros) and meat around 70 cents. & nbsp;
15% of households with poverty income – Wages in Cyprus
According to an announcement by the Statistical Service regarding the results of the Income and Living Conditions Survey 2020, with a financial reference year of 2019, 21.3% of the population or 188,000 people were at risk of poverty or social exclusion (AROPE index, one of the 9 key indicators in the European Union Strategy, “Europe 2020”). More specifically, 21.3% of the population lived in households with disposable income below the poverty line or lived in households with severe material deprivation or lived in households with a very low labor intensity index. The index was at its highest level in 2015, after reaching 28.9%.
The percentage of the population at risk of poverty, ie their disposable income was below the monetary risk of poverty, was in 2020 at 14.3%. In the same year, the percentage of the population with severe material deprivation, ie the percentage of the population that due to financial difficulties could not, for example, repay their electricity/water bills or loans or could not have adequate heating in winter or to cover an extraordinary but necessary expense, was estimated at 8.3%
The financial risk of poverty was in 2020 at € 10,022 for one-person households and at € 21,047 for households with two adults and 2 dependent children.
According to data from the Statistical Service, in 2020 the median salary was € 1,573, € 1,661 for men and € 1,453 for women. Simply put, half the employees had a salary below € 1,573. Based on the same data, 6.8% of employees had a salary below € 500, 8% between 500- 749 euros, 10.9% between 750-999 euros, 14% between 1000-1249 euros and 11.2% between 1250- 1499 euros. That is, one in four employees had a gross salary of less than 1,000 euros. Calculate that salaries are subject to cuts of 8.3% for social security and 2.65% for GESY. Therefore, a gross salary of 1000 euros after deductions is limited to 890.5 euros …