Press Release 21/06/2013
Industrial prices of the Basque Country decreased by 0.6% in May 2013 with regards to the previous month
They were 0.9% down on the previous year (May 2013 on May 2012)
Industrial prices in the Basque Country fell by 0.6% in May 2013 compared to the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for May, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 0.9%.
A more detailed analysis by sector reveals that in May 2013 the most inflationary branches, compared to the previous month, were "Extraction Industries" (1.1%), "Manufacture of Pharmaceutical Products" (0.6%) and "Rubber, Plastic & Non-Metallic Minerals" (0.2%). On the other hand, there were larger price decreases in the sectors of "Electricity, Gas & Steam" (-2.3%), "Manufacture of Electrical Material & Equipment" (-0.9%) and the sectors of "Furniture & Other Manufacturing Industries" and "Metallurgy & Metal Products", both down by 0.7%.
In the year-on-year period, May 2013 on May 2012, the highest price increases took place in the branches of "Manufacture of Pharmaceutical Products" (2.9%), "Manufacture of Machinery & Equipment" (2.7%) and "Textile, Garments, Leather & Footwear" (1.2%). In contrast, there were decreases in prices corresponding to the sectors of "Coke Plants & Oil Refining" and "Metallurgy & Metal Products", both with a drop of 2.8%, "Timber, Paper & Graphic Arts" (-1.7%) and "Furniture & Other Manufacturing Industries" (-1.4%), amongst others.
According to the classification of goods by economic destination, the evolution of prices in the large sector groups in May was negative for nearly all of them: The price of Energy was down by 1.5% whilst prices of Intermediate Goods dropped by 0.6%. Consumer Goods as a whole were down by 0.3% as a result of the drop both in prices of Consumer Non-Durables and those of Consumer Durables, both decreasing by 0.3%. Prices of Equipment Goods, however, were up by 0.1%.
The variation in prices for these large goods groups in the year-on-year period was different for each one. Prices corresponding to Energy were down by 1.9%, as were those for Intermediate Goods, which were down by 2.0%, whereas prices corresponding to Consumer Goods remained unchanged (0.0%). Amongst the latter, the prices of Consumer Durables rose by 0.2%, whilst those of Consumer Non-Durables did not vary (0.0%). Equipment Goods registered an increase in prices of 1.6%.
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