Consumers have been told to brace for a ‘perfect storm’ on prices of essential goods, particularly food and fresh produce, as an increase in demand following the pandemic, rough weather conditions and
A leading indicator that serves as an early warning signal for changes in Cyprus economic activity, saw a year-on-year growth in February, prior to the full scale of the current crisis with
Rising prices of raw materials in Cyprus are largely to blame for a growing trade deficit, wider by almost 20% in January, compared to the same month last year, according to stakeholders.
Cyprus expects to be hit the hardest in the sectors of tourism and energy supplies, a senior government official told the EU finance ministers’ meeting (Ecofin) in Brussels, echoing warnings from rating
The Finance Ministry has revised its inflation forecast for Cyprus this year from an initial 1.5% to 4%, amid a hike in fuel prices in the aftermath of Russia’s invasion of Ukraine.
Cyprus’ significant links with Russia have increased the downside risks to otherwise strong medium term economic prospects for the island, rating agency DBRS said in a commentary, echoing concerns by local firms
In the aftermath of Russia’s invasion of Ukraine and sanctions could inflict wounds on the Cypriot economy, including trade, higher fuel prices and the key tourism sector where 22% are Russia and
Cypriot consumers have seen their purchasing power reduce by more than 5% compared to a year ago as inflation hit a 13-year record high in January. If this wasn’t bad enough, consumers
Finance Minister Constantinos Petrides confirmed that European monetary bodies consider resorting to interest rate hikes to deal with high inflation. Addressing a conference on the future of Europe organised by the Glafcos
The pandemic has accelerated banks’ plans to downsize by closing more branches and merging others while making the most of technological advancements. News site Stockwatch quoted Hellenic Bank sources saying the group
