Cyprus Mail
Cyprus

Cyprus consumers pay highest costs in EU

Consumers are spending more carefully

CYPRIOT consumers pay the highest interest rates, electricity and fuel and drink the most expensive milk in Europe, trade union SEK said in an announcement.

The union said that profiteering on basic products burdens unfairly and unjustifiably consumers.

“It seems that competition in our country is from non-existent to limited and this leads to the creation of cartels and groups of various interests that take advantage of their dominant position in the market,” the announcement said.

The union has called for the intervention of the government and of its institutions “so that these unacceptable phenomena are minimised”.

“Unfortunately, the reduction of energy costs observed in fuel and electricity lately, has not affected the rest of the products, baked goods, industrial or anything else,” it said.

The union calls for an investigation and demands that responsible groups give simple and documented explanations to consumers “who are the permanent victims of this profiteering”.

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