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The Index of Industrial Output Prices for September 2022 reached 142,6 units (base 2015=100), recording an increase of 0,6% compared to August 2022. Compared to the corresponding month of the previous year, the index recorded an increase of 28,2%. For the period January-September 2022, the index showed an increase of 23,1% compared to the corresponding period of 2021.  In September 2022 compared to August 2022, the index showed a rise in the sectors of mining and quarrying by 1,2%, manufacturing by 1,0% and marginally in electricity supply by 0,1%. In the sector of water supply and materials recovery the index recorded a decrease of 1,5%. Compared to the corresponding
month of the previous year, an increase was recorded in all sectors, as
follows: electricity supply 79,9%, mining and quarrying 16,5%, manufacturing
14,1% and water supply and materials recovery 11,5%. By division of economic
activity in manufacturing, in September 2022 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 (24,7%), the manufacture of basic metals and
fabricated metal products (20,1%), the manufacture of wood and products of
wood and cork, except furniture (15,3%), the manufacture of rubber and
plastic products (14,4%), the manufacture of food products and beverages
(13,7%), the manufacture of machinery and equipment, motor vehicles and other
transport equipment (13,7%) and the manufacture of paper and paper products
and printing (13,4%).
Note: Data for August 2022 in
the sector of Water Supply and Materials Recovery and September 2022 in the
sectors of Electricity Supply and Water Supply and Materials Recovery are
preliminary.
Methodological Information Definitions The Industrial Output Prices
Index is a monthly index and is the combination of the Industrial Output
Prices Index for the domestic market and the Industrial Output Prices Index
for the non domestic market. The prices collected for
products sold in the domestic market are basic selling prices excluding VAT,
discounts, commissions and excise duties. Moreover, the prices collected for
products sold in the non domestic market are quoted FOB (free on board). The prices collected refer
mainly to transactions between the enterprises that produce and sell the
products chosen for the compilation of the Industrial Output Prices Index and
the enterprises that buy these products, regardless of whether those products
are to be used as raw materials or as merchandise. Scope Data collection The collection of data for the
sectors of mining and quarrying, manufacturing and materials recovery is
conducted by the Statistical Service by telephone enquiries and e-mail. Data
is collected after the first Thursday of each month from a sample of
enterprises. The Electricity Authority of Cyprus provides consumption data in
quantity and value terms, while data is also received from water distribution
and desalination units. Compilation method The Industrial Output Prices
Index is using 2015 as base year, meaning that it shows the monthly changes
in prices in relation with the monthly average prices of the year 2015. In
the base year, the average of the price indices for the twelve months is 100,0.
For example, a monthly price index of 112,3 means that the prices for the
specific month have increased by 12,3% in relation to the average monthly
prices of 2015. The aggregated Industrial
Output Prices Index is a weighted average of the price indices of the various
sub-sectors of Industry. The weights used reflect the sales value of products
belonging to each sub-sector in the base year (2015) in relation to the total
sales value of the sector. The compilation of the
Industrial Output Prices Index follows the provisions of Regulation (EU)
2019/2152 on European business statistics. The Index is transmitted every
month to the Statistical Office of the European Union (Eurostat). For more information: CYSTAT Portal, subtheme Industry, CYSTAT-DB (Online Database),Predefined Tables (Excel) Contact: (NG/IK) |
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