Prices under control: Cypriot authorities see no grounds for food and fuel price caps

Cypriot authorities do not plan to introduce price caps on food and fuel, as the current price increases remain justified. This was stated by Aliki Iordanou, head of the competition department of the Consumer Protection Service.

According to her, in March, 33 out of 45 categories of essential goods became more expensive compared to February, but 12 categories showed a decrease. At the same time, eight of them became cheaper in annual terms. Overall, inflation stood at 1.2% — one of the lowest rates in the European Union.

Iordanou emphasized that suppliers and supermarkets are containing price growth, and competition is intensifying thanks to the "e-basket" (e-kalathi) tool. Consumers are actively comparing offers, which puts additional pressure on the market and contributes to price stabilization.

Regarding fuel, authorities also see no grounds for intervention. The price increase is attributed to the rising cost of raw materials on international markets. The Service monitors the entire chain — from import to retail sale, analyzing supplies from Greece and Israel, as well as the volumes and timing of purchases. The introduction of a price cap is only possible in the case of unjustified growth, but no such signs currently exist.

Market representatives confirm the stability of the situation. Andreas Hadjiadamou, Executive Secretary of the Supermarket Association, noted that there are currently no sharp price spikes beyond seasonal fluctuations. According to him, a decrease in consumer activity is traditionally recorded after the Easter period, which is considered a normal cycle.

Thus, despite global economic challenges, the price situation in Cyprus remains under control, and the authorities continue to rely on market mechanisms and transparency instead of direct regulation.