Industrial Output Prices Index continued upward trend in June

The Index of Industrial Output Prices continued its steep annual rise in June, showing increasing signs of inflationist pressures on the economy.

According to data released by the Statistical Service of Cyprus (Cystat), the index in June rose to 131.3 units (base 2015=100), recording an increase of 0.5% compared to May 2022, while the Index climbed by 21.7% compared with the respective period of last year.

For the period January-June 2022, the index registered an increase of 19.4% compared to the corresponding period of 2021

In June 2022 compared to May 2022, the index remained stable in the sector of electricity supply, while it showed a rise in the sectors of mining and quarrying by 3.8% and manufacturing by 1.1%. In the sector of water supply and materials recovery the index decreased by 6.1%.

Compared to the corresponding month of the previous year, an increase was recorded in all sectors. Electricity supply rose by 51.8%, water supply and materials recovery 15.6%, manufacturing with 13.7% and mining and quarrying with 10.5%, Cystat said.

Source: Cyprus News Agency