Press Release 22/03/2013
Industrial prices of the Basque Country rose by 1.1% in February 2013 on the previous month
With regards to the previous year (February 2013 on February 2012) they grew by 0.8%
Industrial prices in the Basque Country rose by 1.1% in February 2013 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 a rise of 0.8%.
A more detailed analysis by sector shows that in February 2013 the most inflationary branches, compared to the previous month, were “Coke Plants & Oil Refining” (4.1%), “Electricity, Gas & Steam” (1.8%) and “Metallurgy & Metal Products”, (1.3%), amongst others. In contrast, the sectors to experience the largest falls in their prices were “Textile Industry, Leather & Footwear” (-2.2%), “Chemical Industry” (-1.2%) and “Manufacture of Pharmaceutical Products” (-0.6%), amongst others
In the year-on-year period, February 2013 on February 2012, the greatest increases in prices took place in the branches of “Food Industry, Beverages & Tobacco” (3.5%), “Furniture & Other Manufacturing Industries” (2.9%) and “Coke Plants & Oil Refining” (2.7%). On the other hand, there were downturns in prices corresponding to the following sectors: “Extraction Industries” (-2.1%), “Timber, Paper, and Graphic Arts” (-1.6%) and “Manufacture of Computer, Electronic & Optical Products” (-0.8).
With regards to the classification of goods by economic destination, the evolution of prices in February as regards the large groups by sector followed an upwards trajectory for the majority: the price of Energy was up by 3.4%, Intermediate Goods saw their prices rise by 0.7%, the prices of Equipment Goods were up by 0.4% and Consumer Goods as a whole were up by 0.1%, as a consequence of the increase experienced by the prices of Consumer Durables, which rose by 0.2%, and the fact that the prices of Consumer Non-Durables remained unchanged (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 increased by 1.3% and those corresponding to Equipment Goods were up by 1.8%, whereas prices of Intermediate Goods fell by 0.2% and those corresponding to Consumer Goods increased by 2.0%. Amongst the latter, the prices of Consumer Durables rose by 0.4%, whilst Consumer Non-Durables increased by 2.5%.
Methodological note:
The Industrial Price Index for February 2013 has been established in the new 2010 base and therefore succeeds the previous 2005 base. This base change has signified the updating of the representative panel of informant companies of the industrial sector in the Basque Country as well as the weighting structure for the various levels of disaggregation, which becomes that of the year 2010
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.eus
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.