Description The Industrial Output Prices Index is a monthly index and is the combination of the Industrial Output Prices Index for the domestic market and the non-domestic market. The Index reflects the evolution of prices in the sectors of mining and quarrying, manufacturing, electricity supply, water supply and materials recovery, that is, sections B, C, D and E of the statistical classification of economic activities NACE Rev. 2 of the European Union.
Method The Industrial Output Prices Index is using 2021 as base year, meaning that it shows the monthly changes in prices in relation with the monthly average prices of the year 2021. In the base year, the average of the price indices for the twelve months is 100,0. For example, a monthly price index of 112,3 means that the prices for the specific month have increased by 12,3% in relation to the average monthly prices of 2021.
The aggregated Industrial Output Prices Index is a weighted average of the price indices of the various sub-sectors of Industry, as determined in the statistical classification of economic activities NACE Rev. 2. The weights used are derived from the total sales of the enterprises in the base year (2021) and reflect the turnover of each sub-sector in relation to the total turnover of the Industrial sector.
Data Coverage The Index covers the sections B, C, D and E of the statistical classification of economic activities NACE Rev. 2 of the European Union. The index does not include sewerage, waste collection, treatment and disposal and remediation activities, which are codes 37, 38.1, 38.2 and 39 of section E.
Frequency The index is compiled on a monthly basis. The collection of data for the sectors of mining and quarrying, manufacturing and materials recovery is conducted by the Statistical Service by telephone enquiries and e-mail. Data is collected after the first Thursday of each month from a sample of enterprises. For electricity supply and water collection, treatment and supply, data is collected from administrative sources.
Data Availability The first reference month of the Index is January 2021.
At a national level the Index is published every month in a relevant Press Release and in the Online Database CYSTAT-DB on the website of the Statistical Service of Cyprus. The Index is also transmitted every month to the Statistical Office of the European Union (Eurostat).
Comparability Over Time The data are comparable over time.
Principal Variables The principal variable of the Industrial Output Prices Index is the prices. The prices collected for products sold in the domestic market are basic selling prices excluding VAT, discounts, commissions and excise duties. Moreover, the prices collected for products sold in the non domestic market are quoted FOB (free on board).
Classification Systems Economic activity: Industrial classification of economic activities within the European Communities (NACE Rev. 2) - Resutls disseminated at the 2-digit level or 2-digit level groupings.
Legal Framework The compilation of the Industrial Output Prices Index follows the provisions of Regulation (EU) 2019/2152 on European business statistics.