Industrial output prices up 13% y-o-y in October

Industrial output prices increased by 13% in October 2021 year -over – year while they increased by 1% compared to the previous month.

According to Statistical Service of Cyprus, the Index of Industrial Output Prices for October 2021 reached 111.6 units (base 2015=100), recording an increase of 1% compared to September 2021. Compared to the corresponding month of the previous year, the index recorded an increase of 13%. For the period January-October 2021, the index showed an increase of 5.3% compared to the corresponding period of 2020.

In October 2021 compared to September 2021, the index remained stable in the sector of electricity supply, while it showed a rise in the sectors of mining and quarrying by 2.7%, water supply and materials recovery by 2,1% and manufacturing by 1.2%.

Compared to the corresponding month of the previous year, an increase was recorded in all sectors, as follows: electricity supply 36.3%, water supply and materials recovery 32.4%, manufacturing 6.6% and mining and quarrying 3.9%.

By division of economic activity in manufacturing, in October 2021 compared to the corresponding month of the previous year, increases were recorded in all economic activities. The most significant were observed in the manufacture of wood and products of wood and cork, except furniture (27.5%), the manufacture of basic metals and fabricated metal products (24.2%), the manufacture of rubber and plastic products (8.7%), the manufacture of other non-metallic mineral products (4.9%) and the manufacture of machinery and equipment, motor vehicles and other transport equipment (4.4%).

Source: Cyprus News Agency