[Reuters]
Cyprus is seeing more people shopping and spending money, but high prices are still affecting the cost of living.
New data shows that in November 2024, both the amount of goods sold and the money spent in retail stores went up compared to last year. While this is a positive sign, inflation is still a concern for many people.
Retail trade in Cyprus, which includes everything from groceries to clothing, grew by 7.2% in value in November 2024 compared to the same month a year earlier. At the same time, the volume of goods sold (i.e. the number of items people bought) also went up by 6.3%. So, not only are people spending more, they are also buying more things.
The biggest jump in sales was seen in items like books, toys, sports equipment and even stationery, which increased by 12.3%. Clothing and shoes saw a big rise, too, with sales up by the same rate. Supermarkets also had a good month, with an 11.7% increase in sales of food, drinks and tobacco.
However, not everything did well. Sales in stores that don’t sell products directly, like online shops, fell by about 5%. This means that while physical stores did well, some online sales struggled.