The price of meat in Cyprus increased by 1.8% in February 2024 compared to February 2023, while the price of lamb and goat meat specifically increased by 11.7% in the same period, according to data released by Eurostat, the statistical service of the EU. During the same period, meat prices in the EU increased by 3.3%.

The largest increase in meat prices in Cyprus was recorded for lamb and goat meat (+11.7%), followed by the prices of pork (+4.1%) and beef and veal (+2.5%). On the other hand, poultry prices decreased significantly (-5.7%).

In fact, the increase in prices for lamb and goat meat in Cyprus was the second largest in the EU after Croatia (+14.9%). The decrease in poultry prices was the fourth largest in the EU after Czechia (-16.5%), Poland (-8.1%) and Hungary (-6.7%).

At the EU level, pork meat recorded the highest increase at 5.7%, ahead of lamb and goat (+4.5%) and beef and veal (+3%). Poultry, in contrast, registered a decrease of 1.6% compared with February 2023.

In February 2024, most EU countries reported an increase in prices for meat, compared with February 2023. The highest increase was recorded in Bulgaria (+8.2%), followed by Romania (+7.7%) and Croatia (+7.1%).

In contrast, 3 countries recorded a decrease in the prices for meat: Czechia (-5.1%), Finland (-2.2%) and Denmark (-0.6%).

Over the past 3 years, the annual inflation rates for meat were the highest between April 2022 and March 2023, with annual rates of change above 10%. The highest rate was registered in February 2023 when the price was 17.3% higher than in February 2022.

The annual increase in the prices of beef, veal, lamb and goat remained below 15% during the past 3 years. The price of poultry (+24.4% in November 2022) and pork (+18.8% in February 2023) registered higher fluctuations.