Household spending has seen a significant increase, according to the latest Household Budget Survey (HBS) by the Cyprus Statistical Service (Cystat).
Specifically, the service reported that the average annual consumption expenditure per household reached €43,263 in 2023.
This marks a 38.6 per cent rise compared to the €31,206 recorded in 2015-2016.
The increase was evident across both urban and rural areas. In urban centres, the average annual household expenditure stood
