supermarket price — According to the Cyprus Consumers Association, supermarket prices have seen significant hikes, particularly on the e-kalathi platform. In the first half of May, 182 product barcodes experienced price increases ranging from 1 per cent to 9 per cent across 31 different product categories.
Supermarket price: Categories of Notable Price Increases
The most substantial price rises were observed in several categories, including nuts, fruit and vegetable juices, fabric softeners, frozen pasta, baby food, frozen vegetables, olive oil, and baby wipes. This trend reflects a growing concern among consumers regarding the affordability of essential goods.
Competition in Supermarkets Lacking
While some supermarkets seem to engage in intense competition, the Cyprus Consumers Association noted that this is not the case for the majority of stores participating in the e-kalathi platform. They pointed out that price discrepancies between supermarkets indicate a lack of robust competition in the market.
Stark Price Variations Observed
A recent survey of 370 products from a particular supermarket chain with seven locations revealed that its prices were significantly higher than the average prices across other supermarkets on the platform. In some instances, the price difference reached as much as 91 per cent. This finding raises questions about pricing strategies in a market where consumers are increasingly price-sensitive.
Diesel Prices Show Geographic Disparities
In addition to consumer goods, diesel prices were also analysed by the association. Paphos emerged as the district with the highest average fuel price at 185.6 cents per litre, followed closely by Limassol at 183.3 cents, and Famagusta at 182.3 cents. Nicosia and Larnaca had slightly lower prices, standing at 182.2 cents and 182 cents per litre, respectively.
Corporate Fuel Stations’ Pricing Policies
The association also reviewed the pricing practices at corporate fuel stations owned by major petroleum import companies like Shell, Petrolina, and EKO. It found that retail prices vary not only between different districts but also within the same district, indicating a lack of uniform pricing policy. For instance, price differences in retail at corporate stations in Larnaca ranged from 2 to 2.1 cents per litre, while Limassol saw variations up to 4.3 cents per litre.
Factors Influencing Fuel Pricing
The Consumers Association concluded that the prices at company stations are influenced by various factors beyond the cost of fuel acquisition. The competition among stations on the same road or route also plays a significant role in determining fuel prices. This multifaceted approach to pricing reflects the complexities within the market and the various elements that influence consumer costs.
