Index of Industrial Output Prices (Base year 2000)

Methodological note on the Index of Industrial Output Prices
Scope The monthly Index of Industrial Output Prices reflects the evolution of prices of economic activities in the branches of mining and quarrying, manufacturing and electricity, gas and water supply. The index can be an
early indicator of inflationary pressures in the economy. The aggregated index is broken down to domestic index and non-domestic index.
Data Collection The collection of the data for the sub-sectors of mining and quarrying and manufacturing is conducted by the Statistical Service by telephone enquiries. In the manufacturing sector the data are collected after the first Thursday of each month from a sample of enterprises. In the sector
of mining and quarrying the survey includes all enterprises. The Electricity Authority of Cyprus as the only electricity producing enterprise provides consumption data in quantity and value, while data are also received from water distribution, desalination and purification companies.
Compilation method and dissemination practices The Index of Industrial Output Prices is using 2000 as base year, meaning
that it shows the monthly changes in prices in relation with the monthly average prices of the year 2000. 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 implies that the prices for the specific month have increased by 12,3% in relation to the average monthly prices of 2000. The aggregated Index of Industrial Output Prices is a weighted average of the price indices of the various sub-sectors of Industry, as these are
classified in the classification system of economic activities NACE (Rev. 1.1) of the European Union. The weights used reflect the production value of each sub-sector in relation to the total production value of the Industrial sector. The Index of Industrial Output Prices follows the provisions of the Council Regulation (EC) No 1165/98 concerning short-term statistics, amended by Regulation (EC) No 1158/2005 and is every month transmitted to
Eurostat.
Contact person For more information: Charalambos Alkiviadous