31.08.2022
The July 2022 Industrial Price Index jumped 27.5% year-on-year, signaling inflationary pressure on economic activity in the midst of the war in Ukraine and the recovery from the Covid-19 pandemic.
According to the data published by the Statistical Office of Cyprus (Cystat), the industrial price index for July 2022 reached 140 units (2015 base = 100), recording an increase of 4.6% compared to June 2022 and 27.5% on an annualized basis.
For the period January-July 2022, the index showed an increase of 21.4% compared to the corresponding period in 2021.
Compared to the corresponding month of the previous year, growth was recorded in all sectors. Electricity supply grew by 80.6%, followed by mining and quarrying with 15.0%, water and materials recycling with 14.1% and manufacturing with 13.1%.
According to Cystat, compared to June 2022, the index recorded growth in the sectors of electricity supply by 16.2%, mining by 4.5% and manufacturing by 0.3%, while water supply and material recycling decreased by 1.8%.
