As if current inflation isn’t high enough, consumers are being warned that a third wave of high prices is on the way. Now it’s milk and dairy products.
By 2022, farm milk prices are expected to rise by 30-33%, while wholesale dairy prices are expected to rise by 14-17%, according to financial experts.
Consumers in Cyprus are already suffering from rising prices, with job index values rising but transaction volumes declining as a result of inflation, Philenews reports.
In general, the value index increases by 20.1% and the volume increases by 9.3%.
In the first half of 2022, the value index is estimated to have risen by 14.4% and the volume index by 4.6% compared to the same period in 2021.
However, only one sector was actually unaffected by the pandemic measures, and that involved food.
In food, until recently sales were down 4.7%, while the value index increased 7.7%. In June, due to tourism, the volume also he increased by 1.3%.
https://in-cyprus.philenews.com/news/local/consumers-warned-over-imminent-dairy-product-price-inflation/ Consumers warned of impending dairy price hikes