30.06.2022
The Industrial Price Index for May 2022 reached 130.4 units (2015 base = 100), recording an increase of 22% compared to the corresponding month of the previous year, according to data published by the Statistical Service of the Republic of Cyprus.
The data show that growth was recorded in all sectors. Electricity supply increased by 51.8%, water supply and materials utilization by 19.7%, manufacturing by 13.9% and mining by 6.5%.
In the section of economic activity in the manufacturing industry, in May 2022, compared to the corresponding month of the previous year, growth was recorded in all types of economic activity. The most significant was observed in the production of wood and wood products and cork, except for furniture, where an increase of 34.6% was recorded. The production of basic metals and finished metal products increased by 33.2%, the production of rubber and plastic products – by 19.5%, the production of other non-metallic mineral products – by 17.5%. Also, the production of machinery and equipment, cars and other transport equipment increased by 13.5%, the production of food, beverages and tobacco – by 11.3%.
Compared to the previous month, April 2022, May 2022 saw an increase of 4.1%. showed a decline in the sector of water supply and recycling of materials by 2.9%.
The Statistical Office of Cyprus reports that for the period from January to May 2022, the index showed an increase of 18.8% compared to the corresponding period in 2021.
