The retail sales turnover, excluding motor vehicles, recorded a significant increase in June 2024, according to the latest data released on Thursday by the Cyprus Statistical Service.

The Retail Trade Value Index rose by 5.5% compared to June 2023, while the Retail Trade Volume Index saw a 3.2% increase over the same period.

For the January-June 2024 period, the Value Index recorded a total increase of 5.3% compared to the same period in 2023. Simultaneously, the Volume Index rose by 4.0%, indicating heightened demand and increased consumer spending.

Significant increases were noted in the "Food, Beverages, and Tobacco" category, both in non-specialized stores (supermarkets) and specialized stores, with annual increases in the Value Index of 8.4% and 9.9%, respectively.

The "Clothing and Footwear" sector saw a 6.5% increase in the Value Index and a 6.2% rise in the Volume Index.

Motor fuel experienced a 4.3% increase in the Value Index, while the Volume Index decreased by 4.7%.

Notable declines were observed in the "Information and Communication Equipment" sector, with the Value Index falling by 6.4% and the Volume Index by 3.4%.