Cyprus’ Producer Price Index (PPI) in industry for February 2025 fell by 0.5 per cent year-on-year in February, according a report released this week by the state statistical service.

Specifically, the index stood at 121.7 points during this time, down from the figure of 122.3 recorded in February of 2024.

It should be noted that 2021 serves as the base year for these comparisons, with a value of 100 points.

In comparison with the same month in 2024, certain sectors recorded increases.

Mining and quarrying rose by 4.5 per cent, water supply and material recovery increased by 0.5 per cent, and manufacturing saw a marginal rise of 0.3 per cent.

However, electricity supply experienced a decline of 4.8 per cent.

Within the manufacturing sector, February 2025 saw varied trends across different industries compared to the previous year.

The production of electronic and optical products, as well as electrical equipment, saw the highest increase at 6.8 per cent.

Furniture manufacturing, other manufacturing activities, and machinery and equipment repair and installation followed with a rise of 4.4 per cent.

Textile production, clothing, and leather goods increased by 3.3 per cent, while paper production, paper products, and printing rose by 3.1 per cent.

Petroleum refining, chemicals, and pharmaceutical products recorded a 2.2 per cent increase, while machinery and transport equipment manufacturing grew by 2 per cent.

On the other hand, declines were noted in the food, beverages, and tobacco industry, which fell by 1.4 per cent, and in the wood industry, including the manufacturing of wooden and cork products (excluding furniture), which declined by 0.1 per cent.

Compared to January 2025, the index recorded a slight decline of 0.2 per cent.

Increases were observed in mining and quarrying, which rose by 3.4 per cent, water supply and material recovery, which increased by 0.7 per cent, and electricity supply, which edged up by 0.1 per cent.

However, the manufacturing sector saw a decline of 0.3 per cent.

For the period from January to February 2025, the index registered an overall decrease of 0.4 per cent compared to the corresponding period in 2024.