Press Release 24/03/2020

INDUSTRIAL PRICE INDEX. FEBRUARY 2020

Industrial prices in the Basque Country decreased by 0.9% in February 2020 in respect of the previous month

Compared to February 2019 industrial prices were down 0.7%

Industrial prices in the Basque Country fell by 0.9% in February 2020 in respect of the previous month, according to EUSTAT data. With these data, the year-on-year rate for February, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be -0.7%.

A more detailed analysis reveals that, in February 2020, the most inflationary branches on the previous month were: Extraction industries and Water, both with a rise of 2.2%, and Computer, Electronic & Optical Products, with an increase of 0.8%. On the other hand, the following sectors recorded the largest month-on-month decreases in prices: Coke Plants & Oil Refining with a fall of 6.9%, Manufacture of Machinery & Equipment, which decreased by 3.2% and Pharmaceutical Products, down 2.8%.

Following the classification of Goods by economic destination, compared to the previous month, Intermediate Goods rose by 0.3%; and Consumer Goods, as a whole, were up 0.1%. Within these, prices of Consumer Durables were up by 0.9%, whilst in Consumer Non-durables, there was a downturn of 0.1%. In turn, Capital Goods prices fell by 1.4% and Energy prices dropped 3.9%.

In year-on-year terms, February 2020 on February 2019, the greatest increases in prices occurred within the branches of Extraction industries with a rise of 6.4%; Textile, Garments, Leather & Footwear, up 4.7%; and Computer, Electronic & Optical Products with an increase of 3.6%. Conversely, there were decreases in prices corresponding to the sectors of Coke Plants and Oil Refining, which fell by 5.8%; Timber, Paper & Graphic Arts, which dropped by 3.9%; and Manufacture of Machinery & Equipment, down 2.6%.

The price variation of the large goods groups by economic destination was positive over the year-on-year period for Capital Goods, which were up 1.1%, and for Consumer Goods as a whole, up 1.8%. Among the latter, the prices of Consumer Non-Durables rose by 1.9%, and Consumer Durables were up by 1.5%. By contrast, the greatest decreases in prices were seen in the sectors of Energy, down 3.8%, and Intermediate Goods, with a fall of 0.6%.

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