Press Release 23/04/2013
Industrial prices of the Basque Country decreased by 0.6% in March 2013 with regards to the previous month
Compared to the previous year (March 2013 and March 2012) they decreased by 0.6%
Industrial prices in the Basque Country registered a fall of 0.6% in March 2013 on the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for March, which indicates the fluctuation in industrial prices over the last twelve months, also registered a drop of 0.6%.
A more detailed analysis sector by sector reveals that in March 2013 the most inflationary branches compared to the previous month were “Textile, Garments, Leather & Footwear” (1.1%) and “Furniture & Other Manufacturing Industries” (1.0%). On the contrary, the following sectors experiences substantial drops in their prices: "Electricity, Gas & Steam" (-2.3%), "Coke Plants & Oil Refining" (-2.2%) and the “Manufacture of Pharmaceutical Products” (-1.2%).
In the year on year period, March 2013 on March 2012, the highest price increases took place in the branches of "Manufacture of Machinery and Equipment" (2.7%), "Food, Beverages & Tobacco" (2.4%) and "Furniture & Other Manufacturing Industries" (2.1%). On the other hand, greater declines were recorded in the prices corresponding to "Coke Plants & Oil Refining" (-3.7%), "Extraction Industries" (-2.5%) and "Metallurgy & Metal Products" (-2.3 %), among others.
According to the classification of goods by economic destination, the evolution of prices in the large sectorial groups in March as compared to the previous month was as follows: the price of Energy experienced a fall of 2.5%, prices of Equipment Goods were up 0.1%, while those of Intermediate Goods fell by 0.1% and those of Consumer Goods as a whole remained unchanged (0.0%), due to that fact that prices of Consumer Durables and those of Non-Durables remained stable (0.0%).
The variation in prices for these large goods groups in the year-on-year period was different for each one. Prices corresponding to Energy decreased by 3.1%, with those corresponding to Intermediate Goods falling by 1.3%, whereas prices of Equipment Goods grew by 2.1% and those corresponding to Consumer Goods increased by 1.5%. Amongst the latter, the prices of Consumer Durables rose by 0.4%, whilst Consumer Non-Durables increased by 1.8%.
For further information:
Eustat - Euskal Estatistika Erakundea / Instituto Vasco de Estadística
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: servicioprensa@eustat.eus Tlf: 945 01 75 62
Further press releases on IPRI - Industrial Price Index of the Basque Country
Databank on IPRI - Industrial Price Index of the Basque Country