Industrial prices in the A.C. of the Basque Country registered a 0.4% rise in October 2003, according to EUSTAT data. These figures show that the inter-annual rate for October, which records the variation of industrial prices over the last twelve months, reflected growth of 1.3%. Additionally, evolution of industrial prices in the first ten months of the year, which is to say with respect to last December, showed growth of 1.0%.

More detailed analysis by sectors clearly shows that, compared with the previous month, the major inflationary areas were "Oil refining" (1.8%), “Rubber and plastic” (0.8%), "Electric energy, gas and water" (0.6%) and "Leather and footwear industry" (0.6%), among others. On the other hand, the only sector to experience a fall in prices in October was "Transport material", with a 0.1% decrease.

In the inter-annual period, October 2002 to October 2003, the greatest price increases were in the following sectors: "Metal and non-metal minerals" (4.9%), "Food industry" (3.5%), “Machinery” (2.8%), “Paper, printing and graphic arts” (1.9%) and "Transport material" (1.9%). Negative inter-annual rates, on the other hand, were recorded in "Oil refining" (-3.9%), "Rubber and plastic" (-0.4%) and “Textiles and clothing” (-0.4%).

According to the classification by economic destination, the price variation in October in relation to the previous month was as follows: Intermediate Goods increased prices 0.7% and likewise Consumer Goods by 0.2%, whereas prices corresponding to Capital Goods fell 0.1%.

There were clear differences in the evolution of prices in these three types of goods over the inter-annual period (October 2003 in relation to October 2002). The greatest price increase was in Consumer Goods (2.3%), followed by Capital Goods (1.9%), while Intermediate Goods showed a more modest price increase of 0.5%.