Press Release 20/12/2019

INDUSTRIAL PRICE INDEX, NOVEMBER 2019

Industrial prices in the Basque Country decreased by 2.5% in November 2019 compared to the previous month

They were 0.2% down on the previous year (November 2019 on November 2018)

Industrial prices in the Basque Country decreased by 2.5% in November 2019 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for November, which indicates the fluctuation in industrial prices over the last twelve months, was negative, standing at -0.2%.

A more detailed sector-level analysis reveals that in November 2019, the most inflationary branches on the previous month were: Textile, Garments, Leather & Footwear, up 4.4%, Computer, Electronic & Optical Products, which rose by 0.8%, and Coke Plants & Oil Refining that, together with Pharmaceutical Products, increased by 0.4%. On the other hand, the largest decreases in prices were seen in the sectors of: Electricity, Gas, Steam & Air Conditioning, with a decrease of 16.5%; Extraction Industries, which fell by 0.9%; and Timber, Paper & Graphic Arts, down 0.7%.

According to the classification of goods by economic destination, and in relation to the previous month, Consumer Goods, as a whole, were up 0.3% influenced by the prices of Consumer Non-Durables, which rose by 0.3%, since prices of Consumer Durables fell by 0.1%. Intermediate Goods and Capital Goods remained stable (0.0%), whereas Energy dropped 9.4%.

In year-on-year terms, November 2019 on November 2018, the greatest increases in prices occurred in the branches of Electrical Material & Equipment, which increased by 2.5% and Transport Material and Computer, Electronic & Optical Products, both up 2.0%. By contrast, the largest registered decreases in prices corresponded to the sectors of Textile, Leather & Footwear, down 3.8%; Electricity, Gas, Steam & Air Conditioning, with a drop of 1.7%, and Pharmaceutical Products, which decreased by 1.5%.

The year-on-year price variation of the large goods groups was positive for Capital Goods, whose prices increased by 1.2%. Consumer Goods remained unchanged (0.0%) as a consequence of the prices of Consumer Durables rising by 1.5% and those of Consumer Non-durables dropping by 0.2%. Prices of Intermediate Goods were down 0.3% and Energy prices fell by 1.0%.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.es Tel: 945 01 75 62