Industrial output prices up by 17.2% y-o-y this November

Industrial output prices were up year-on-year by 17.2% this November, data released by the Cyprus Statistical Service (CyStat), on Friday, show.

In a press release CyStat said that, the Index of Industrial Output Prices for November 2022 reached 136.2 units (base 2015=100), recording a decrease of 3.3% compared to October 2022. It added that for the period January-November 2022, the index showed an increase of 22.6% compared to the corresponding period of 2021.

According to the official data, in November 2022 compared to October 2022, the index remained stable in the sector of water supply and materials recovery, while it showed a rise in the sectors of mining and quarrying by 1.0% and manufacturing by 0.7%. In the sector of electricity supply the index recorded a decrease of 12.6%.

CyStat also said that compared to the corresponding month of the previous year, an increase was recorded in all sectors, as follows: electricity supply 32.4%, mining and quarrying 14.8%, manufacturing 12.9% and water supply and materials recovery 6.7%.

At the same time, by division of economic activity in manufacturing, in November 2022 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 other non-metallic mineral products (21.3%), the manufacture of food products and beverages (14.3%), the manufacture of rubber and plastic products (14.2%), the manufacture of basic metals and fabricated metal products (13.3%), the manufacture of wood and products of wood and cork, except furniture (13.2%), the manufacture of paper and paper products and printing (12.3%) and the manufacture of electronic and optical products and electrical equipment (9.7%).

It is explained that the Industrial Output Prices Index is a monthly index and is the combination of the Industrial Output Prices Index for the domestic market and the Industrial Output Prices Index for the non domestic market.

Source: Cyprus News Agency