CoLA deal ‘around the corner’

Social partners are reportedly ready to settle a dispute over the Cost of Living Allowance (CoLA), by accepting the mediation proposal tabled by Labour Minister Yiannis Panayiotou. According to news reports, Panayiotou’s

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Annual March inflation drops to 6.1%

The annual inflation rate in Cyprus was 6.1% in March, down from 6.7% in February, according to data published by Eurostat. The Harmonized Index of Consumer Prices (HICP) rose by 6.1% since

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March inflation lowest in 13 months

Despite inflationary pressures receding, March saw the lowest inflation rate for 13 months, but households continue to feel the cost-of-living pinch as they spend more on food. According to the Cyprus Statistical

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Central Bank expects 2.6% growth in 2023

The Central Bank of Cyprus (CBC) has marginally pushed up its projections for GDP growth this year citing the slightly improved prospects in the external economic environment and the anticipated lower energy

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February inflation reached 6.7%

Annual inflation in February rose by 6.7% as fuel prices continued their downward trend after hitting an all-time peak last summer. According to the Cyprus Statistical Service, the increase in the cost

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New wave of price increases

Supermarkets and retailers have signalled a new wave of price hikes on commodities, especially foodstuffs, as goods importers are considering adjusting their invoices quoting increased costs. Marios Antoniou, general secretary of the

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