Industrial output prices recorded a new drop in September with the Index dropping by an annual 1% in September, the Cyprus Statistical Service (CyStat) said on Thursday.

The Index of Industrial Output Prices for September 2024 reached 123.4 units (base 2021=100), recording a decrease of 0.4% compared to August 2024 and by 1% compared to the corresponding month of the previous year.

For the period January-September 2024, the index observed a decrease of 2.1% compared to the corresponding period of 2023, CyStat added.

Compared with August 2024, the index remained stable in the sector of mining and quarrying, while it registered an increase in the sector of manufacturing by 0.2%.

A decrease was recorded in the sectors of electricity supply with 2.4% and water supply and materials recovery with 0.4%.

Compared to the corresponding month of the previous year, an increase was recorded in the sectors of mining and quarrying (1.0%) and manufacturing (0.3%). The index showed annual losses in the sectors of electricity supply by 5.4% and water supply and materials recovery by 2.3%.