Press release 22.03.12

INDUSTRIAL PRICE INDEX OF THE BASQUE COUNTRY (IPRI) FEBRUARY 2012

Industrial prices rose by 0.9% in February 2012 on the previous month

They were 3.7% up on the previous year (February 2012 on February 2011)

Industrial prices in the Basque Country rose by 0.9% in February 2012 compared to 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 3.7%.

A more detailed sectorial analysis shows that the most inflationary branches in February 2012, with respect to the previous month, were “Electricity, Gas & Steam” (6.0%), “Coke Plants & Oil Refining” (2.1%) and “Electronic & Computer Products” (0.5%), amongst others. On the other hand, those that experienced drops or lesser increases in prices were “Food, Beverages & Tobacco” (-1.1%), “Manufacture of Furniture & Other Manufacturing Industries” (-0.4%) and “Manufacture of Transport Material” (0.0%).

During the year-on-year period, February 2012 on February 2011, the highest price rises were recorded by “Coke Plants & Oil Refining" (15.8%), “Electricity, Gas & Steam” (13.5%), and “Chemical Industry” (6.0%). On the other hand, prices fell in "Extraction Industries" (-0.7%) and "Pharmaceutical Products" (-0.5%).

According to the Classification of Goods by Economic Destination, the prices in the large sectorial groups varied in February: the price of Energy rose by 3.8%, Intermediary Goods rose by 0.2%, Equipment Goods were down by 0.1%, and Consumer Goods overall rose by 0.1%, as the result of the increase in Consumer Durables, which were up 0.1%, whereas there was no change in the price of Consumer Non-Durables (0.0%).

The price evolution of these large groups of goods increased in all cases over the year-on-year period. Energy prices increased by 14.8%, those of Equipment Goods by 1.4%, those of Intermediate Goods were up 0.9% and there was also a 1.4% increase in prices of Consumer Goods. Amongst the latter, the prices of Consumer Non-Durables rose 1.7% whilst Consumer Durables were up by 0.6%.

For further information:

Basque Statistics Office C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Tel: +34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: eustat@eustat.es Contact: Gerardo Pérez Aja Tel:+34-945-01 75 06 Fax:+34-945-01 75 01 Further press releases on IPRI - Industrial Price Index of the Basque Country Databank on IPRI - Industrial Price Index of the Basque Country.