Industrial output prices index drops annually by 0.9% in Q1 2018

Industrial output prices index has recorded an annual drop of 0.9% in the first three months of this year, data released by the Cyprus Statistical Service, on Friday, show.

According to the data the industrial output prices index for March 2018 reached 97.4 units (base 2015=100), recording a decrease of 0.2% compared to February 2018.

For the first quarter of this year the index fell by 0.9% compared to the first quarter of 2017.

In manufacturing the index in March 2018 reached 99.2 units, recording an increase of 0.3% compared to February 2018.

The Statistical Service also notes that from now on the industrial output prices index is presented with 2015 as a new base year (instead of 2010).

It explains that the change of base year every five years is usual practice that aims at better reflecting changes in the structure of the industrial sector that had taken place over the five-year period.

Source: Cyprus News Agency