Cyprus retail turnover records double-digit growth in September

Cyprus’ retail trade turnover increased by 10.4 per cent in value and 7.7 per cent in volume in September 2026 compared with the same month a year earlier, according to figures released by the Cyprus Statistical Service (Cystat) on Monday. The Turnover Value Index of Retail Trade, which measures sales at current prices, recorded an annual increase of 10.4 per cent in September. At the same time, the Turnover Volume Index, which measures sales after adjusting for price changes, rose by 7.7 per cent compared with September 2025. The figures cover retail trade excluding motor vehicles and provide an indication of developments in consumer spending across the sector. The difference between the two measures reflects the impact of price changes on retail turnover, with the value index recording sales at current prices and the volume index adjusting for inflation. Cystat said the indices use 2021 as their base year, meaning monthly turnover is measured against the average monthly turnover recorded during that year. The average index value across the 12 months of 2021 is set at 100 units. For example, an index reading of 105.3 would indicate that turnover in the particular month was 5.3 per cent higher than the average monthly turnover recorded in 2021. The Turnover Value Index is calculated at current prices, while the Turnover Volume Index is calculated at constant prices. The latter is derived by adjusting the value index using the Consumer Price Index (CPI) as a deflator, allowing changes in sales volumes to be distinguished from the effects of price movements. The September figures therefore indicate that retail sales increased both in monetary terms and in the volume of goods sold compared with the corresponding month of the previous year.