Summer sales in Cyprus remained high despite 4.4% inflation — shoppers became more selective

Cyprus’s retail sector came through the summer with strong results despite inflation: shoppers are visiting supermarkets more often, comparing prices at different stores and avoiding unnecessary purchases. Trade associations told the Cyprus News Agency.

According to data from the Statistical Service of Cyprus (CyStat), the Harmonised Index of Consumer Prices rose by 4.4% year on year in July and by 0.7% compared with June. This was one of the highest figures in the European Union.

Restaurants and accommodation services saw the sharpest price increases, rising by 11.95% over the year. Housing and electricity increased by 6.98%, while food and non-alcoholic beverages rose by 4.54%. Clothing and footwear, by contrast, became 5.24% cheaper.

Pasyle Retail Trade Association Secretary General Marios Antoniou and Supermarket Association Executive Secretary Andreas Hadjiadamou noted that shoppers’ behaviour has changed noticeably: people are looking for promotions, splitting their purchases and paying closer attention to their receipts.

At the same time, retail itself has not declined. According to Antoniou, retail activity remains at a good level, while growth rates and turnover remain very high. July and August were particularly successful for the sector, both in terms of customer numbers and turnover.

Data for the first eight months, Antoniou added, already offers an indication of what the full year of 2026 will be like for Cyprus’s retail sector.