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Industrial Output Prices Jump In June 2021

Industrial Output Prices Jump In June 2021

The Index of Industrial Output Prices for July 2021 rose by 11% driven by gains in all sectors, while the index for the period of January to July 2021 rose by a an annual 2.5%, the Cyprus Statistical Service has said.

 According to Cystat, the index in July 2021 10.8 units (base 2015=100), recording an increase of 1.8% compared to June 2021. Compared to the corresponding month of the previous year, the index recorded an increase of 11.0%.

 For the period January - July 2021, the index showed an increase of 2.5% compared to the corresponding period of 2020.

 Compared with June 2021, the index showed a rise in all sectors.  Electricity supply rose by 5.1%, in water supply and materials recovery by 1.1%, manufacturing by 1.0% and mining and quarrying by 0.4%.

 Compared to the corresponding month of the previous year, an increase was also recorded in all sectors, as follows: electricity supply 37.4%, water supply and materials recovery 31.5%, manufacturing 4.1% and mining and quarrying 1.1%.

 By division of economic activity in manufacturing, in July 2021 compared to the corresponding month of the previous year, increases were recorded in almost all economic activities, Cystat added.

 The most significant were observed in the manufacture of wood and products of wood and cork, except furniture (21.1%), the manufacture of basic metals and fabricated metal products (19.1%), the manufacture of rubber and plastic products (3.7%), the manufacture of furniture, other manufacturing and repair and installation of machinery and equipment (2.3%) and the manufacture of electronic and optical products and electrical equipment (2.0%).

 The only economic activity to decline in June was the manufacture of refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations with 0.2%, Cystat said.

Source: CNA


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