Soaring prices and energy costs are the top concerns for Cypriots, according to a new survey by CMRC CYPRONETWORK LTD for the Pancyprian Consumers & Quality of Life Association.
The survey found that 84% of Cypriots are worried about rising prices for goods and services, while 72% are concerned about energy bills.
Crime and violence (38%), corruption (32%), and poverty (30%) ranked as secondary concerns, with issues like climate change (13%) and the Russia-Ukraine war (6%) causing less immediate anxiety.
The survey also revealed a sense of cautious optimism regarding household finances. While four in ten households reported only “getting by,” there was a rise in the number who felt comfortable with their income (30% in 2024 vs 21% in 2023). This aligns with the finding that household income has remained relatively stable compared to the previous year (58% reported stability).
Consumer spending habits have also shifted slightly. There’s been a decrease in overall purchases compared to 2023, with fewer households reporting they are increasing spending (12% vs 18%). Those reducing purchases have also decreased (34% in 2024 vs 40% in 2023).
Cypriots appear to be prioritising essentials and long-term goals. Home maintenance (45%) and improving quality of life (38%) are the top spending categories, followed by investments in children’s education (29%) and savings (26%).rising prices. Soaring prices, energy costs, concerns
