The Cyprus Statistical Service has released new data regarding the changes in the Industrial Producer Price Index in Cyprus.
According to the fresh report of the agency, there were no major changes in this indicator in November 2023. Specifically, the Index reached 138.3 points (2015 base = 100), increasing by 0.2% compared to November 2023 and decreased by 0.7% - year-on-year.
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In turn, the Index increased by 5% from January through November 2023 compared to the corresponding period in 2022.
Interestingly, the Index remained stable in the mining sector in November compared to the previous month of 2023. At the same time, it rose in the electricity sector by 1.5% and in the water supply and material utilization sector by 0.5%.
Compared to November 2022, the Index increased in the mining sector (+5.2%) and manufacturing sector (+1.4%). But decreased in the Electric Utilities sector (-5.6%) and the Water Supply and Material Disposal sector (-0.5). The manufacturing sector was down 0.2%.
By manufacturing sector, in November 2023, compared to the corresponding month of the previous year, increases were recorded in the production of other non-metallic mineral products (+4%), food and beverages (+2.3%), furniture manufacturing, repair and installation of machinery and equipment (+4.4%), as well as food and beverages (+2.3%) and textiles, clothing and leather goods (+2.2%).
Decreases were recorded in the production of basic metals and metal products (-5.6%), the production of paper, paper products and printing products (-0.8%), the production of rubber and plastic products (-0.3%) and the production of electronic and optical products and electrical equipment (-0.3%).