Cyprus water and electricity raise industrial prices 8% y/y in Jan

Industrial output prices surged over the year earlier in January, rising by 8.0% compared with January 2011.
Compared with December, the index reached 134.5 (base 2005=100), recording an increase 1.4% compared with December 2011.
The manufacturing subindex was stable compared with December. The main reason for the increase, therefore, came from higher water and electricity prices.
Industrial prices for water supply and material recovery rose by 20% compared with January 2011 while electricity prices rose 3.4%.
On Sunday the Cyprus Mail cited Nicosia water board general manager Nicos Zambakides saying that water bills could increase by as much as 15% in 2013.