Cyprus industrial producer price index decreased by 1.6 per cent in November 2024, compared to the same month in 2023, according to the state’s statistical service.

The index reached 122.0 points, with 2021 acting as the base year set at 100 points, recording a 1.1 per cent decrease compared to October 2024.

For the period January–November 2024, the index dropped by 2.0 per cent compared to the same period in 2023.

In November 2024, compared to October 2024, the index remained steady in the sectors of mining and quarrying. However, it increased slightly in manufacturing by 0.1 per cent.

Declines were observed in electricity supply (-6.1 per cent) and water supply and material recovery (-0.6 per cent).

Year-on-year, notable increases were seen in manufacturing (1.0 per cent), water supply and material recovery (0.7 per cent), and mining and quarrying (0.6 per cent).

The electricity supply sector saw a significant decrease of 11.7 per cent.

Within manufacturing, notable increases were recorded in electronic and optical products and electrical equipment, which rose by 6.6 per cent, as well as furniture manufacturing, other manufacturing activities, and repair and installation of machinery and equipment, which increased by 5.8 per cent.

Paper and paper products and printing saw a rise of 3.7 per cent, textiles, apparel, and leather products grew by 2.8 per cent, and petroleum refining, chemicals, and pharmaceutical products expanded by 2.0 per cent.

Additional increases were observed in machinery and transport equipment manufacturing, which grew by 1.8 per cent, and the food, beverages, and tobacco industries, which rose by 0.7 per cent.

Conversely, declines were recorded in basic metals and fabricated metal products, which dropped by 1.7 per cent, rubber and plastic products, which decreased by 0.9 per cent, and non-metallic mineral products, which fell by 0.2 per cent.