Announcement by the Cyprus Statistical Service – Industrial Output Prices Index
Industrial Output Prices Index – Annual Change -3,0% – Feb 2024
The Index of Industrial Output Prices for February 2024 reached 122,6 units (base 2021=100), recording an increase of 0,1% compared to January 2024. Compared to the corresponding month of the previous year, the index recorded a decrease of 3,0%. For the period January-February 2024, the index showed a decrease of 2,9% compared to the corresponding period of 2023.
In February 2024 compared to January 2024, the index remained stable in the sector of mining and quarrying, while it showed a rise in the sectors of water supply and materials recovery by 1,2% and manufacturing by 0,1%. In the sector of electricity supply the index recorded a decrease of 0,2%.
Compared to the corresponding month of the previous year, an increase was recorded in the sectors of mining and quarrying (1,2%) and manufacturing (0,1%) and a decrease in the sectors of electricity supply by 13,6% and water supply and materials recovery by 3,4%.
By division of economic activity in manufacturing, in February 2024 compared to the corresponding month of the previous year, increases were recorded in the manufacture of furniture, other manufacturing and repair and installation of machinery and equipment (3,0%), the manufacture of refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations (2,8%), the manufacture of electronic and optical products and electrical equipment (2,4%), the manufacture of food products and beverages (1,7%) and the manufacture of textiles, wearing apparel and leather products (1,5%), while a decrease was recorded in the manufacture of basic metals and fabricated metal products (-7,4%), the manufacture of paper and paper products and printing (-3,3%) and the manufacture of rubber and plastic products (-2,1%).
