Cyprus industrial producer prices up 0.2% in August as energy costs drive EU-wide rise

Industrial producer prices in Cyprus rose 0.2 per cent month on month in August, following a 1.8 per cent increase in July, according to Eurostat, while prices in both the euro area and the EU climbed 1.9 per cent. On an annual basis, Cyprus' industrial producer prices were 4.2 per cent higher, compared with rises of 8.2 per cent in the euro area and 8.0 per cent across the EU. Separate Cystat data show Cyprus' Industrial Turnover Index rose 5 per cent year on year in July to 168.8 units, with domestic market demand up 7.4 per cent, though the figures point to a widening gap between domestic demand and export performance. For people living in Cyprus, the data indicate energy-driven cost pressure building across Europe, with the island's monthly increase smaller than the euro area average.