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from In the consumer goods market, the latest consumer goods price monitoring data released by the Consumer Protection Bureau showed that prices have risen sharply. In June, prices of 28 of the 45 basic product categories rose, of which 24 prices rose by less than 3% month-on-month. Higher fuel prices in May and June, combined with higher food inflation, led to an increase in overall inflation to 2.9% in June, from 2.4% in April. This inflationary trend was most evident in food prices, which rose by 2.0% in January-June 2024 compared with the same period last year. The main reasons for this increase included a 4.9% increase in agricultural product prices, a 9.5% increase in electricity costs, and an 8.6% increase in petroleum product prices. Of particular note were increases in the prices of vegetables and leafy greens (up 23.0%), vegetable cooking oils (up 13.7%), and frozen molluscs/shellfish (up 10.4%).
at the same time, According to detailed data from the Ask Wire Index for the second quarter of 2024, Cyprus’ real estate market is showing mixed but relatively stable conditions. On an annual basis, property prices rose by 3.5% for apartments, 1.0% for offices and 0.6% for vacation rentals, while house and warehouse prices remained stable. In contrast, commercial properties and vacation homes fell slightly. Rental values showed more obvious changes, with apartment rents rising by 5.0% and office rents rising by 3.2% compared to the second quarter of 2023. On a quarterly basis, apartment rents rose by 1.5%, while warehouse rents fell slightly by 0.2%, indicating a stable overall rental market.
The Cyprus Stock Exchange (CSE) closed in the red on Friday, July 19. The stock market fell, continuing the downward trend in recent trading sessions. The decline was mainly due to pressure on bank stocks, which significantly affected the performance of the overall market.
At 13:02, the General Index retreated to 162.95 points, down 0.95%. Similarly, the FTSE/Cyprus 20 Index fell 0.96% and was trading at 99.19 points. At the same time, the transaction value was 151,501 euros, of which 8,159 euros were bond transactions.
In addition, all individual stock market indices fell except for the hotel industry, which remained unchanged. The investment company index fell the most, down 2.46%, followed by the main market, down 1.24%, and the alternative market fell less, down 0.08%.
In terms of specific securities, Bank of Cyprus attracted the most investor interest, with a turnover of €100,944, although its shares fell by 0.95%. It was followed by Vasilikos Cement Plant, which traded €28,065 and remained unchanged in value. Bank of Greece traded €15,775, down 0.77%. Demetra Holdings fell 2.51% to €6,943, while FROU FROU had the largest percentage drop, down 3.40% to €1,136.
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