Industrial prices soar in Cyprus

Cyprus’ Index of Industrial Output Prices for April 2022 reached 123.8 units (base 2015=100), recording an increase of 19.5% compared to the same month last year, according to data published by the island’s Statistical Service (CyStat) on Monday.

Compared to the corresponding month of the previous year, an increase was recorded in all sectors. Electricity supply rose by 43.6%, water supply and materials recoverywere up 27.2%, manufacturing by 13% and mining and quarrying by 4.4%.

Compared to March 2022, the index recorded an increase of 2.1% in April 2022. During this period, it remained stable in the sector of electricity supply, while the sectors of manufacturing posted a 2.8% rise, water supply and materials recovery increased by 0.7% and mining and quarrying by 0.5%.

In March, the Industrial Production Index reached 135.7 units (base 2015=100), recording an increase of 6.9% compared to March 2021, according to CyStat.

The manufacturing sector registered an increase of 2.2% compared to March 2021. A 27.5% rise was observed in the sector of electricity supply, while water supply and materials recovery increased by 19.5%.