The Cyprus Statistical Service has released new data regarding the change in the industrial producer price index in Cyprus.
According to the latest report of the agency, there were no major changes in the index in December 2023. The Index reached 138.5 points (2015 base = 100), increasing by 0.2% compared to November 2023 and decreasing by 0.8% year-on-year.
In turn, the Index increased by 4.5% from January through December 2023 compared to the corresponding period in 2022.
Interestingly, in December 2023 compared to the same month in 2022, the Index increased in the furniture manufacturing, repair and installation of machinery and equipment (+4.6%), other non-metallic mineral products manufacturing (+4.5%), textiles, clothing and leather goods manufacturing (+2.2%), food and beverages manufacturing (+2.1%), pharmaceutical products and preparations manufacturing (+4.1%), and petroleum products manufacturing (4.1%).
Declines were recorded in the non-precious metals and metal products manufacturing sector by 5.9%, paper, paper products, and printing by 0.9%, rubber and plastic products manufacturing by 0.4%, and transportation equipment manufacturing by 0.2%.
Interestingly, the Index remained stable in the mining sector in December compared to the previous month of 2023. At the same time, it rose in the electricity supply sector by 1.5% and in the water supply and material utilization sector by 0.5%.
Earlier, the Cyprus Statistical Service also released the data of the Industrial Production Index in Cyprus.