Cyprus among most expensive countries in EU

The cost-of-living crisis is one of the most pressing problems the government has to tackle, and according to a Phileleftheros survey, Cyprus remains one of the most expensive countries in Europe.

As energy and prices soar, there are growing calls for immediate and substantial measures against the cost of living.

Finance Minister Makis Keravnos says the government is taking measures to address the cost of living, but any further intervention should primarily be targeted.

One significant factor affecting prices is the economy’s heavy reliance on energy imports, causing high electricity bills and pump prices.

Here’s what is reported on the Numbeo platform - the world’s largest cost of living database, including purchasing power based on the average net salary.

In Greece, consumer prices, including rent, are 24.4% lower than in Cyprus.

Rent prices are 55.8% lower than in Cyprus, and restaurant prices in Greece are 15.8% lower. Grocery prices in Greece are 7.1% lower than in Cyprus.

The price of milk (1 litre) is 8.5% cheaper in Greece, white bread (500 grams) is 38.3% cheaper, rice (1 kilo) is 7.7% cheaper, eggs are 12.8% more expensive in Greece than in Cyprus, and chicken fillet is 5.8% more expensive.

The price of one kilo of apples is 29.7% cheaper in Greece, tomatoes are 31.6% cheaper, and potatoes are 12.2% lower.

Consumer prices in Italy are 3% higher than in Cyprus (excluding rent); consumer prices, including rent, are 7.9% lower.

Rent prices are 32.5% lower, restaurants are 0.1% higher, and supermarkets are 12.7% higher.

Local purchasing power in Italy is 19.6% higher than in Cyprus.

The price of milk is 16.8% cheaper in Italy, bread is 0.1% cheaper, eggs are 6.4% cheaper, chicken fillet is 24.8% more expensive, one kilo of apples is 18.8% cheaper, tomatoes are 3% cheaper, and potatoes are 4.3% less.

In Portugal, consumer prices, including rent, are 22.2% lower than in Cyprus.

Rent prices are 22.8% lower, restaurants are 35.2% lower, and supermarkets are 18.6% cheaper.

Local purchasing power in Portugal is 7.9% lower than in Cyprus.

The price of milk is 45.6% cheaper, bread is 30.9% cheaper, eggs are 26.5% cheaper, chicken fillet is 19.7% cheaper, one kilo of apples is 26.4% cheaper, tomatoes are 28.1% cheaper, and potatoes are 13% cheaper.

In Slovenia, consumer prices, including rent, are 20.6% lower than in Cyprus.

Rent prices are 37.3% lower than in Cyprus, restaurant prices in Slovenia are 26.1% lower than in Cyprus, and supermarket prices in Slovenia are 3.7% lower than in Cyprus.

Local purchasing power in Slovenia is 14.1% higher than in Cyprus.

The price of milk is 25.5% cheaper in Slovenia, bread and eggs are 14.5% cheaper, chicken fillet is 10.2% cheaper, one kilo of apples is 28.1% cheaper, tomatoes are 0.3% cheaper, and potatoes are 13% less.

In France, consumer prices, including rent, are 4.9% higher than in Cyprus.

Rent prices are 20.7% lower, restaurant prices in France are 7.3% higher, and supermarket prices in France are 38.8% higher.

Local purchasing power in France is 53.6% higher than in Cyprus.

The price of milk is 43.2% higher, bread is 13.4% more expensive, and eggs are 1% more.

Chicken fillet is 33% cheaper in Cyprus, apples are 10.2% cheaper, tomatoes are 16.4% cheaper, and potatoes are 35.4% less.

In Cyprus, consumer prices, including rent, are 4.2% lower than in Germany. Rent prices in Cyprus are 17.1% higher than in Germany, and restaurant prices are 3.5% higher. Grocery prices in Cyprus are 13.9% lower than in Germany. Local purchasing power in Cyprus is 46.7% lower than in Germany.

The price of milk is 44.7% more expensive in Cyprus. Bread is 5.1% cheaper, chicken fillet is 34.1% cheaper, and potatoes are 22.9% less.

These comparisons highlight the variations in prices and local purchasing power among European countries, contributing to the cost of living disparities across the region.