Industrial prices rise in July

Industrial producer prices in Cyprus rose by 1.9 per cent in July 2018, compared to the previous month, according to figures released by Eurostat, the statistical office of the European Union.

By comparison, the index grew by 0.4 per cent in the euro area (EA19), and by 0.3 per cent in the EU28.
In July 2018, compared with July 2017, industrial producer prices rose by 4.0 per cent in the euro area, 4.7 per cent in the EU28, and 2.8 per cent in Cyprus.

According to Eurostat, the 0.4 per cent increase in industrial producer prices in total industry in the euro area in July 2018, compared with June 2018, is due to rises of 1.1 per cent in the energy sector and of 0.1 per cent for intermediate goods, capital goods, durable and non-durable consumer goods.

Prices in total industry excluding energy rose by 0.1 per cent. In the EU28, the 0.3 per cent increase is due to rises of 0.8 per cent in the energy sector and of 0.1 per cent for intermediate goods, capital goods, durable and non-durable consumer goods. Prices in total industry excluding energy also rose by 0.1 per cent.

The industrial producer price index measures the gross monthly change in the trading price of industrial products.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.