Press Release 24/03/2022
INDUSTRIAL PRICE INDEX. FEBRUARY 2022
Industrial prices in the Basque Country increased by 3.3% in February 2022, led by electrical energy with a rise of 12.1%
Respecto a febrero de 2021, los precios industriales han aumentado un 18,7%
In relation to February 2021 industrial prices rose by 18.7%
Industrial prices in the Basque Country increased by 3.3% February 2022 compared to the previous month, according to Eustat data. The year-on-year rate for February, which indicates the fluctuation in industrial prices over the last twelve months, stood at 18.7%.
Year-on-year variation rate of the industrial price index in the Basque Country. (%)
Feb, 2021 Apr, 2021 Jun, 2021 Aug, 2021 Oct, 2021 Dec, 2021 Feb, 2022 |
Jan, 2006 Jan, 2008 Jan, 2010 Jan, 2012 Jan, 2014 Jan, 2016 Jan, 2018 Jan, 2020 Jan, 2022 |
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A more detailed analysis reveals that in February 2022 the most inflationary sectors on the previous month were: Electricity, Gas & Steam, with an increase of 12.1%;Coke Plants & Oil Refining, up 5.0%; and Manufacture of Pharmaceutical Products, with a rise of 3.8%. In contrast, the sectors that recorded the largest month-on-month decreases in prices were: Extraction industries and Manufacture of Transport Material, down 2.2%; Textile, Garments, Leather & Footwear, with a decrease of 0.6%; and Manufacture of Computer, Electronic & Optical Products , with a drop of 0.3%.
With regards to the classification of goods by economic destination, price fluctuations were positive in the following sectors: Energy prices increased by 8.0%; prices of Intermediate Goods rose by 1.9%, and those of Consumer Goods, as a whole, were up 1.5%; influenced by the 1.6% price rise in Consumer Non-durablesand the 0.6% rise in Consumer Durables. Capital Goods were down 0.5%.
Industrial Price Index of the Basque Country. Variation rate (p). February 2022
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 123,2 | 3,3 | 18,7 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 107,2 | -2,2 | 1,8 |
| Manufacturing industry | 119,5 | 1,7 | 13,8 |
| Manufacture of food products, beverages and tobacco products | 114,7 | 1,2 | 8,0 |
| Textile industry, garments, leather & shoes | 103,5 | -0,6 | -4,3 |
| Manufacture of wood and paper products, and printing | 124,8 | 2,8 | 20,3 |
| Coke and refined petroleum | 140,8 | 5,0 | 39,7 |
| Chemical industry | 135,4 | 2,6 | 21,9 |
| Manufacture of pharmaceutical products | 118,0 | 3,8 | 4,2 |
| Rubber, plastic and other non-metallic mineral products | 106,1 | 2,8 | 7,2 |
| Metallurgy and metal products | 126,5 | 1,8 | 18,6 |
| Manufacture of computer, electronic and optical products | 117,2 | -0,3 | 7,3 |
| Manufacture of electrical equipment | 112,0 | 0,5 | 4,4 |
| fabricacion de maquinaria y equipo n.e.c | 109,6 | 1,7 | 6,1 |
| Manufacture of transport material | 105,5 | -2,2 | -1,6 |
| Furniture; other industries; repair and installation | 110,7 | 0,1 | 3,5 |
| Electricity, gas and steam | 145,4 | 12,1 | 52,3 |
| Water | 119,9 | 1,5 | 8,3 |
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| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 113,8 | 1,5 | 6,1 |
| Durable consumer goods | 108,7 | 0,6 | 3,8 |
| Nondurable consumer goods | 114,6 | 1,6 | 6,4 |
| Equipment goods | 111,7 | -0,5 | 3,7 |
| Intermediate goods | 120,9 | 1,9 | 15,5 |
| Energy | 144,9 | 8,0 | 47,3 |
Base 2015=100
(p)Provisional data
m / m-1: Variation rate of the last observed month (m) compared to the previous month (m-1)
m / m-12: Year-on-year variation rate of the last observed month (m) compared to the same month of the previous year (m-12)
Date March 24, 2022
Source: Eustat Industrial prices index
In year-on-year terms, February 2022 on February 2021, the greatest increases in prices occurred within the branches of Electricity, Gas & Steam, with a rise of 52.3%; Coke Plants & Oil Refining, up 39.7%; and Chemical Industry, which registered an increase of 21.9%. Conversely, prices decreased in Textile, Garments, Leather & Footwear, down 4.3%, and Manufacture of Transport Material, with a fall of 1.6%.
Year-on-year price fluctuations for the large goods groups by economic destination were positive for all of them: Energy prices rose by 47.3%; prices of Intermediate Goods were up 15.5% and those of Capital Goods increased by 3.7%. Consumer Goods, as a whole, registered growth of 6.1%; influenced by the 6.4% rise in prices of Consumer Non-durables and the 3.8% increase in those of Consumer Durables.
NOTE
Eustat would like to thank all the establishments that have collaborated in making this effort despite the circumstances. As a result, the February index was calculated with 94.50% coverage of the sample whose information was gathered during February and March.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: servicioprensa@eustat.eus Tel.: 945 01 75 62