Bulgaria’s Business Climate: Retail and Services Thrive, Industry and Construction Struggle

According to the National Statistical Institute, the overall business climate indicator in March 2024 remains stable compared to February, hovering around 23%. While there was a boost in the indicator within the retail trade and service sector, there was a decline noted in the industry and construction sectors.

Price cuts have taken effect

Since Friday, infant formula has been between 5% and 16% cheaper than it was up until Thursday, while a series of other commodities also saw their retail prices drop as a result of the ceiling imposed on gross profit margins by the Development Ministry.

White goods to cost more in Cyprus

Household appliances in Cyprus, such as refrigerators, washing machines and TV sets, are expected to experience price increases in the near future. The Retail Trade Association attributes this development to the Red Sea tensions. However, the Cyprus Consumers Association deems any price hikes in household appliances due to Houthi attacks on cargo ships as unjustified.

Price increases change consumer habits, limit spending to basics, report says

Price increases have changed consumer habits in Greece, a survey by the Retail Consumer Goods Research Institute (IELKA) said on Thursday.

The survey, conducted on a sample of 1,000 consumers in November 2023, showed a clear trend by consumers to save money to buy basic goods and services. More specifically, the pressure is bigger on reducing spending on basic services.