Cyprus Producer Prices Fall 1.5%

(RTTNews) - Industrial producer prices in Cyprus continued to decline at the end of the year, preliminary figures from the statistical office showed Friday.

The index of industrial output prices fell at a stable rate of 1.5 percent year-on-year in December. Prices have been falling since July 2023.

Among sectors, prices in the electricity supply segment plunged 10.5 percent from last year. On the other hand, prices in the manufacturing and mining and quarrying sectors rose 0.9 percent and 0.7 percent, respectively.

On a monthly basis, producer prices edged up 0.1 percent in December.

During the year 2024, the industrial producer price index showed a decline of 1.9 percent compared to 2023.

Separate official data showed that the average monthly earnings grew 5.4 percent annually in the third quarter, slower than the 6.0 percent growth in the second quarter. The quarterly growth eased to 1.3 percent from 1.5 percent.