The Index of Industrial Output Prices for May 2022 reached 130.4 units (base 2015=100), recording an increase of 22%, compared to the corresponding month of the previous year, according to data published by the Statistical Service of the Republic of Cyprus.
The data shows that an increase was recorded in all sectors. Electricity supply increased by 51.8%, water supply and materials recovery by 19.7%, manufacturing by 13.9% and mining and quarrying 6.5%.
By division of economic activity in manufacturing, in May 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 wood and products of wood and cork, except furniture, where an increase of 34.6% was recorded. The manufacture of basic metals and fabricated metal products increased by 33.2%, the manufacture of rubber and plastic products by 19.5%, the manufacture of other non-metallic mineral products by 17.5%. Also, the manufacture of machinery and equipment, motor vehicles and other transport equipment increased by 13.5% and the manufacture of food products, beverages and tobacco products by 11.3%.
In comparison to the previous month, April 2022, an increase of 4.1% was observed in May 2022. The index showed a rise in the sectors of electricity supply by 13.2%, mining and quarrying by 1.9% and manufacturing by 1.5%, while it showed a decrease in the sector of water supply and materials recovery by 2.9%.
The Cyprus Statistical Service says that for the period January-May 2022, the index showed an increase of 18.8%, compared to the corresponding period of 2021.