Press Release 23/01/2020

INDUSTRIAL PRICE INDEX. DECEMBER 2019

Industrial prices in the Basque Country increased by 0.3% in December 2019 with regards to the previous month

In 2019 as a whole the Industrial price index registered a growth of 1.7%, compared to December 2018

Industrial prices in the Basque Country rose by 0.3% in December 2019 on the previous month, according to EUSTAT data. With these data, the year-on-year rate for December, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 1.7%.

A more detailed sector-level analysis reveals that in December 2019, the most inflationary branches on the previous month were: Textile, Garments, Leather & Footwear with a rise of 3.3%, and Coke Plants & Oil Refining up 1.5%. On the other hand, the following sectors recorded the largest decreases in prices: Water with a drop of 2.7% and Pharmaceutical Products and Chemical Industry, which both fell by 0.4%.

Following the classification of Goods by economic destination, with regards to the previous month, Energy posted a 1.1% increase in prices; Capital Goods rose by 0.1%; and Consumer Goods as a whole were up 0.6%. Within these, Consumer Durables were up by 0.2%, whilst in Consumer Non-durables, there was an increase of 0.7%. Intermediate Goods were down 0.1%.

In the year-on-year period, December 2019 on December 2018, the greatest increases in prices occurred within the branches of: Coke Plants & Oil Refining up 11.1%; Extraction Industries, with an increase of 3.4%; and Computer, Electronic & Optical Products, with a rise of 3.0%. By contrast, there were decreases registered in prices corresponding to the sectors of: Pharmaceutical Products, down 1.4%; Chemical Industry, which dropped by 1.2%; and Timber, Paper & Graphic Arts, with a decrease of 0.8%.

The price variation of these large goods groups was positive over the year-on-year period for Energy, which rose 7.1%; Capital Goods, up 1.6%; and Intermediate Goods, which increased by 1.1%. Amongst the latter, the prices of Consumer Durables rose by 2.0%, and Consumer Non-Durables were up by 1.0%. On the other hand, the prices of Intermediate Goods experienced a fall of 0.2%.

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