Labour Minister Kyriacos Koushos failed to get social partners to agree on a national minimum wage scheme on Friday, despite keeping employers and union bosses locked up in his office throughout the
The European Central Bank (ECB) increased interest rates by more than expected on Thursday, raising its benchmark deposit rate by 50 basis points to zero percent, impacting the Cyprus banking system and
Cyprus workers will earn no less than €890 gross a month, increasing to €930 after six months on the job, as the government edges closer to introducing a nationwide minimum wage. Following
The cost of consumer goods and services in Cyprus continued to climb in June, on an upward spiral for the past 18 months, rising to 111.34 points or 9% on an annual
People wanting to buy a house in Cyprus are constricted by an upward trend in construction costs and materials, with the latest figures showing a 20% jump. According to Cystat, the average
Inflation is running higher for longer, and we must realise it affects various groups of people differently. Inflation is calculated as the rate of increase of an index comprised of several hundred
The European Commission has praised the Cypriot economy for exceeding expectations during the year’s first quarter while also delivering bad news regarding high inflation. “The Cypriot economy surprised on the upside in
Activity in construction declined in the first three months to March amid soaring prices, indicating the Cyprus economy is slowing. In the first quarter of 2022, the Index of Production in Construction,
Cypriot consumers are becoming increasingly conservative in their shopping habits, chasing discounts while opting for cheaper products, say retailers. The change in consumer psychology comes amid the highest wave of inflation in
A deal for introducing the national minimum wage is under threat, as social partners are drifting apart instead of converging, resorting to cheap shots at each other. The sides were expected to
