Cyprus' producer price inflation accelerated in May, after weakening in the previous month, data released by the statistical office showed Friday.
The producer price index increased 8.4 percent on an annual basis in May, after rising 7.7 percent in April. In March, output prices advanced 8.1 percent.
Output prices of goods sold in the domestic market grew 9.1 percent annually, while prices in the overseas market decreased 0.3 percent.
Prices in the manufacturing industry advanced 2.1 percent annually during the month, while mining and quarrying prices edged down 0.5 percent. There was a 34.9 percent year-on-year growth in costs of electricity in May, data showed.
On a monthly basis, output prices moved up 1.9 percent in May. In the January-May period, prices increased 8.1 percent from the corresponding period a year earlier, the agency said.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Economic News