The Cyprus Consumers’ Association warns consumers about companies in the ‘Photovoltaics for All’ scheme not providing the mandatory seven-year warranty on installations. Consumers are advised to carefully review offers and contact the association for help securing their rights.
Supermarkets in Cyprus are being urged to disclose the percentage deduction when advertising special offers. In one case, out of 21 products on offer, the prices of 20 were higher than another supermarket that did not have offers. This has led to calls for supermarkets that mislead the public over special offers to be named and shamed.
The Cypriot Union of Consumers and Quality of Life has warned consumers about purchasing items from the internet platform Temu, which does not respect European consumer safety legislation. The organisation calls on the government consumer protection service to investigate the platform and take measures. Temu was hit with a European Union complaint over a potential breach of online content rules under the EU’s Digital Services Act. BEUC lodged a grievance with the European Commission and 17 of its members in various countries also filed complaints with their national authorities against Temu for using manipulative practices and breaching the EU’s Digital Services Act.
Temu, a popular e-commerce app in the EU with 75 million monthly users, is under scrutiny for potential breaches of consumer protection laws. The European consumer rights organization BEUC and national bodies have filed complaints alleging the use of manipulative design tactics to pressure users into purchases, lack of transparency on seller information, and violations of the Digital Services Act. Temu has pledged to cooperate and investigate the allegations. Similar concerns have been raised in Germany and South Korea, with the app expected to face stricter compliance requirements as a “very large” digital platform under the DSA.
Fact: Cypriot consumers are waiting until the last minute to do their Easter shopping.
Consumers are facing the most expensive Easter in at least five years, as food prices have soared. A comparison with 2019 prices shows that consumers could pay 50% more for traditional Easter foods this year. The increase is attributed to global supply chain disruptions, inflation, the war in Ukraine, rising interest rates, and instability in the Middle East. The cost of 12 Easter staples has risen by 48.65% since 2019, with small, locally-reared lambs now costing €12.43 per kilogram, up 96% from 2019, and minced pork at €6.06 per kilogram, a 69.27% increase. The price of traditional flaounes has also gone up, with consumers now paying €13.27 per kilogram, a 56.29% increase from 2019.
Olive oil prices have increased by 105.9% since last Easter, with a litre now priced at €15.05.
The processes for licensing and supervision of credit managers are becoming stricter, with new legislation being introduced to harmonize national law with European directives. Credit managers must be licensed by their member state of origin before starting their activities, meeting specific conditions such as robust governance and protection rules for borrowers. Buyers will not be licensed, except for those managing their own portfolios. Credit buyers will be supervised by the Central Bank and subject to penalties for any violations. Companies in the debt acquisition sector will be automatically recognized as licensed credit managers. The bills also ensure consumer protection, including timely information on credit agreement changes and the right to raise defenses against loan buyers.
Prices have generally increased over the past few years, leading to consumers paying more and buying less when visiting supermarkets. This has resulted in many consumers changing their shopping habits, opting for cheaper or lower-quality products and buying only essentials. The price indices for basic consumer products have shown increases in various categories, with some products like fresh vegetables and greens seeing significant price hikes. On the other hand, some products like frozen pasta and sugar have seen price decreases. A survey conducted by Phileleftheros found that the cost of 35 household products has increased by €62.25 compared to the previous year, resulting in a significant impact on the budgets of low and middle-income consumers.
The average price of fuel in Cyprus has increased by 4.5 cents per litre for petrol, 1.3 cents per litre for diesel, and 0.4 cents per litre for heating oil following the termination of the government’s reduced tax measure. Gasoline prices had already increased by 8.3 cents per litre before the tax measure was lifted.