Finance

CYPRUS: Grocery prices higher in Turkish-occupied territories

4 months ago

Essential goods and other groceries are more expensive in the Turkish-occupied territories of northern Cyprus than in the areas administered by the internationally recognised Republic of Cyprus.

Turkish Cypriots are enduring one of their worst financial crises in recent years, with inflation officially hitting 83.94% in March, turning essential goods into luxury items that carry a price tag much higher than Greek Cypriot supermarkets.

According to Financial Mirror citing Turkish Cypriot daily Yeni Düzen, some essential products are much cheaper in the Republic, such as coffee, toothpaste, and shaving razors (Gillette), where they are sold at supermarkets for half the price.

Nescafe (190gm) is sold at a shocking €13 compared to around €4 in the Republic, while toothpaste is at least 30 cents more expensive in supermarkets in the occupied areas.

A set of Gillette razor blades sells for almost €6 in the Turkish-held north and €2.60 in the Republic of Cyprus.

Flour and bulgur wheat also carry a slightly higher price tag in the north.

According to Yeni Düzen, olive oil is one of the essential items that has become a luxury for Turkish Cypriots as a litre of olive oil is sold for €5 the same quality olive oil can be bought for less than €3 across the divide.

There was no big difference in the prices of cucumber, onion, broccoli, imported mushrooms and Brussel sprouts.

Turkish Cypriot alcohol prices have been on the rise due to the decision of the ruling coalition to impose a special levy on alcoholic beverages.

As a result, a 70cc bottle of Johnny Walker red label whiskey now carries a price tag of around €16.50 in the north, while in Greek Cypriot supermarkets, the same bottle can be bought for €13.

The net minimum wage in the north is 6,090 TL (€378). The minimum wage in the Republic for specific jobs is €870, but employees’ average gross monthly earnings are €2,341.

READ MORE: Mitsotakis: The era of the IMF as a lender to Greece has ended – A gray chapter closes.

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Copyright Greek CIty Times 2022

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