Industrial output prices marginally up in November

The Index of Industrial Output Prices for November 2023 reached 138.3 units (base 2015=100), recording an increase of just 0.2% compared to October 2023. Compared to the corresponding month of the previous year, the index recorded a decrease of 0.7%, according to data published by CySTAT.

For the period January-November 2023, the index showed an increase of 5% compared to the corresponding period of 2022.

In November 2023 compared to October 2023, the index remained stable in the sector of mining and quarrying, while it showed a rise in the sector of electricity supply by 1.5% and water supply and materials recovery by 0.5%. In the sector of manufacturing the index recorded a decrease of 0.2%.

Compared to the corresponding month of the previous year, an increase was recorded in the sectors of mining and quarrying by 5.2% and manufacturing by 1.4%. On the contrary, a decrease in the sectors of electricity supply by 5.6% and water supply and materials recovery by 3.5% was observed.

By division of economic activity in manufacturing, in November 2023 compared to the corresponding month of the previous year, increases were recorded in the manufacture of furniture, other manufacturing and repair and installation of machinery and equipment (4.4%), the manufacture of other non-metallic mineral products (4%), the manufacture of refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations (4%), the manufacture of food products and beverages (2.3%) and the manufacture of textiles, wearing apparel and leather products (2.2%). 

At the same time, a decrease was recorded in the manufacture of basic metals and fabricated metal products (-5.6%), the manufacture of paper and paper products and printing (-0.8%), the manufacture of rubber and plastic products (-0.3%) and the manufacture of electronic and optical products and electrical equipment (-0.3%).

(Source: CNA)