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Industrial output prices up by 4.5% in June on annual basis

Industrial output prices increased by 4.5% in June 2023 compared to the corresponding month of the previous year, data released by CySTAT.

According to the CySTAT, the Producer Price Index in the Industry reached 140.0 units (base year 2015=100) for the month of June 2023, registering a 0.1% increase compared to May 2023.

For the period of January-June 2023, the index recorded a 12.0% increase compared to the corresponding period in 2022.

In June 2023, compared to May 2023, the index remained stable in the sectors of mining and quarrying, manufacturing, and electricity supply, while it increased in the sector of water supply and waste management by 2.3%.

Regarding changes compared to the corresponding month of the previous year, there was an increase in the sectors of mining and quarrying (11.6%), electricity supply (6.6%), and manufacturing (4.4%), and a decrease in the sector of water supply and waste management by 5.4%.

By manufacturing sector, in June 2023 compared to the corresponding month of the previous year, there were increases in the production of other non-metallic mineral products (9.7%), food and beverage industry (7.3%), furniture manufacturing, other manufacturing activities, and repair and installation of machinery and equipment (5.9%), electronic and optical products and electrical equipment manufacturing (3.4%), and paper and paper products manufacturing and printing (2.9%). On the contrary, there was a decrease in the production of basic metals and the manufacture of metal products (5.5%).

(Source: CNA)

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