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April 2025 Industrial Output Prices: Mining and Quarrying Surge as Water Supply Dips

Official data released by the Statistical Service reveals a notable shift in industrial output prices for April 2025, with the mining and quarrying sector registering the strongest annual gains. Prices in this segment surged by 7.4%, while water supply and materials recovery experienced a sharp annual decline of 5.3%.

Overall Trends in Industrial Output Prices

The Index of Industrial Output Prices advanced by 0.2% in April to reach 122.2 units, anchored by the 2021 reference year. This monthly increase reiterated the annual growth trajectory, aligning consistently with the year-on-year performance. However, the cumulative index from January to April 2025 indicated a marginal contraction of 0.1% in comparison to the same period in 2024.

Sector-Specific Performance Highlights

On a month-to-month basis, the manufacturing sector posted a 0.5% increase in output prices, whereas the mining and quarrying segment maintained stability. In contrast, water supply and materials recovery fell by 3.7%, and electricity supply showed a slight 0.1% decrease. These disparate movements underline the diverse challenges and momentum across various industrial sectors.

Annual Performance Recap

Over the year, mining and quarrying emerged as the standout sector with a robust 7.4% increase, followed by a modest 0.9% gain in manufacturing. Conversely, water supply and materials recovery continued to struggle with a significant 5.3% downturn, while electricity supply declined by 1.8% relative to April 2024.

Detailed Manufacturing Sector Analysis

Within the manufacturing realm, several divisions experienced noteworthy price hikes. The manufacture of electronic and optical products, along with electrical equipment, led the pack with a 6.7% rise. Other categories such as furniture, general manufacturing, and machinery repair and installation each saw gains of 3.9%, closely followed by paper and printing at the same rate. Meanwhile, textiles, wearing apparel, and leather products grew by 3.3%, and the category including refined petroleum products, chemicals, and pharmaceuticals increased by 2.5%. Machinery and equipment, encompassing motor vehicles and other transport equipment, reported a 2.2% rise. Notably, the manufacture of food products, beverages, and tobacco products was the only division to register an annual decline, falling by 0.7%.

This comprehensive data offers valuable insight into the evolving dynamics of industrial market pricing. Investors and industry leaders will find these trends indicative of underlying sectoral shifts and market pressures, necessitating strategic recalibrations in response to the varying growth trajectories.

Strained Household Finances: Eurostat Data Reveals Persistent Payment Delays Across Europe and in Cyprus

Improved Financial Resilience Amid Ongoing Strains

Over the past decade, Cypriot households have significantly increased their ability to manage debts—not only bank loans but also rent and utility bills. However, recent Eurostat data indicates that Cyprus continues to lag behind the European average when it comes to covering financial obligations on time.

Household Coping Strategies and the Limits of Payment Flexibility

While many families are managing their fixed expenses with relative ease, one in three Cypriots struggles to cover unexpected costs. This delicate balancing act highlights how routine payments such as mortgage installments, rent, and utility bills are met, but precariously so, with little room for unplanned financial shocks.

Breaking Down Payment Delays Across the European Union

Eurostat reports that nearly 9.2% of the EU population experienced delays with their housing loans, rent, utility bills, or installment payments in 2024. The situation is more acute among vulnerable groups: 17.2% of individuals in single-parent households with dependent children and 16.6% in households with two adults managing three or more dependents faced payment delays. In every EU nation, single-parent households exhibited higher delay rates compared to the overall population.

Cyprus in the Crosshairs: High Rates of Financial Delays

Although Cyprus recorded a notable 19.1 percentage point improvement from 2015 to 2024 in delays related to mortgages, rent, and utility bills, the island nation still ranks among the top five countries with the highest delay rates. As of 2024, 12.5% of the Cypriot population had outstanding housing loans or rent and overdue utility bills. In contrast, Greece tops the list with 42.8%, followed by Bulgaria (18.7%), Romania (15.3%), Spain (14.2%), and other EU members. Notably, 19 out of 27 EU countries reported delay rates below 10%, with Czech Republic (3.4%) and Netherlands (3.9%) leading the pack.

Selective Improvements and Emerging Concerns

Between 2015 and 2024, the overall EU population saw a 2.6 percentage point decline in payment delays. Despite this, certain countries experienced increases: Luxembourg (+3.3 percentage points), Spain (+2.5 percentage points), and Germany (+2.0 percentage points) saw a rise in payment delays, reflecting underlying economic pressures that continue to challenge financial stability.

Economic Insecurity and the Unprepared for Emergencies

Another critical indicator explored by Eurostat is the prevalence of economic insecurity—the proportion of the population unable to handle unexpected financial expenses. In 2024, 30% of the EU population reported being unable to cover unforeseen costs, a modest improvement of 1.2 percentage points from 2023 and a significant 7.4 percentage point drop compared to a decade ago. In Cyprus, while 34.8% still report difficulty handling emergencies, this marks a drastic improvement from 2015, when the figure stood at 60.5%.

A Broader EU Perspective

Importantly, no EU country in 2024 had more than half of its population facing economic insecurity—a notable improvement from 2015, when over 50% of the population in nine countries reported such challenges. These figures underscore both progress and persistent vulnerabilities within European households, urging policymakers to consider targeted measures for enhancing financial resilience.

For further insights and detailed analysis, refer to the original reports on Philenews and Housing Loans.

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