Index of Industrial Output Prices (Base year 2010)

Methodological Note on the Industrial Output Prices Index

Scope The monthly Industrial Output Prices Index reflects the evolution of prices in the branches 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. 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. The index can be an early indicator of inflationary pressures in the economy. The aggregated index is broken down to local market and export market indices.
Data collection The collection of data for the branches of mining and quarrying, manufacturing and materials recovery is conducted by the Statistical
Service by telephone enquiries and e-mail. In the mining and quarrying, manufacturing and materials recovery branches, data is collected after the first Thursday of each month from a sample of enterprises. The Electricity Authority of Cyprus provides consumption data in quantity and value terms, while data are also received from water distribution, desalination and purification enterprises.
Compilation method and dissemination practices
The Industrial Output Prices Index is using 2010 as base year, meaning that it shows the monthly changes in prices in relation with the monthly average prices of the year 2010. 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 2010. The aggregated Industrial Output Prices Index is a weighted average of the
price indices of the various sub-sectors of Industry. The weights used reflect the sales value of products belonging to each sub-sector in the base year (2010) in relation to the total sales value of the sector. The compilation of the Industrial Output Prices Index follows the provisions of the Council Regulation (EC) No 1165/98 concerning short-term statistics and its amending Regulations. The Index is every month transmitted to the Statistical Office of the European Union (Eurostat).


Contact person For more information: Charalambos Alkiviadous


Last Update: 30/01/2014