Industrial output prices were up in February this year by 18.1% on an annual basis data released by the Cyprus Statistical Service show.
According to the official data the Index of Industrial Output Prices for February 2023 reached 138.6 units (base 2015=100), recording an increase of 18.1%, when compared to February 2022.
For the period January-February 2023, the index showed an increase of 18.4% compared to the corresponding period of 2022.
Compared to the corresponding month of the previous year, in February an increase was recorded in the sectors of electricity supply, up by 44%, mining and quarrying by 18.2% and manufacturing by 11.7%, while a decrease in the sector of water supply and materials recovery by 4.1% was recorded.
By division of economic activity in manufacturing, in February 2023 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, increased by 22.2%, the manufacture of paper and paper products and printing by 13.9%, the manufacture of food products and beverages by 13.6%. The manufacture of wood and products of wood and cork, except furniture went up by 10.1%, the manufacture of furniture, other manufacturing and repair and installation of machinery and equipment by 9.5% and the manufacture of rubber and plastic products by 8.5%.
Compared to January 2023, in February 2023 went up by 0.2%. The index remained stable in the sectors of mining and quarrying and electricity supply, while it showed a rise in the sectors of water supply and materials recovery increased by 0.4% and manufacturing by 0.2%.
Industrial Production down 0.9% in January 2023
Industrial Production Index decreased 0.9% in January 2023 compared to the same month in 2022, reaching 120.9 units (base 2015=100).
According to data released Thursday by the Statistical Service of Cyprus, the manufacturing sector registered an increase of 5% compared to January 2022. An increase was also observed in the sector of mining and quarrying (26.3%). Negative changes were observed in the sectors of electricity supply (-16.9%) and water supply and materials recovery (-13.9%).
In the manufacturing sector, the most significant positive changes compared to January 2022 were observed in the manufacturing of other non-metallic mineral products (35.2%), food products, beverages and tobacco products (7.6%), textiles, wearing apparel and leather products (5.1%) and rubber and plastic products (5.0%).
The most significant negative changes were observed in the manufacturing of electronic, optical products and electrical equipment (45.5%) and the manufacturing of wood and products of wood and cork, except furniture (5.6%).