Cyprus has the fifth higher increase in the factory prices of its industrial products compared to the eurozone countries in October 2005.

According to Eurostat data released on Friday, the factory prices recorded an increase of 4.4%, which is the highest since May 2005, when it stood at 4.5%.

The average increase of the factory cost in the eurozone reached 4.1% in August, while in the EU it stood at 4.7%.

Competitiveness

According to CYSTAT data released on Friday, producer prices in the first ten months of 2005 showed an increase of 5% compared to the corresponding period of 2004.

Industrial circles support that this increase was anticipated due to the increase in the production cost after the increase in the price of fuel.