Press Release 23/08/2013

INDUSTRIAL PRICE INDEX OF THE BASQUE COUNTRY (IPRI) JULY 2013

Industrial prices of the Basque Country rose by 0.3% in July 2013 in comparison with the previous month

They were 1.0% down on the previous year (July 2013 on July 2012)

Industrial prices in the Basque Country increased by 0.3% in July 2013 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for July, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 1.0%.

A more detailed analysis by sector shows that in July 2013 the most inflationary branches, compared to the previous month, were “Coke Plants & Oil Refining” (2.0%), “Extraction Industries” (0.7%) and “Furniture & Other Manufacturing Industries” (0.5%). On the other hand, the sectors that experienced the largest falls in prices were the “Chemical Industry” (-0.6%), the "Textile, Garments, Leather & Footwear Industry" (-0.3%) and “Manufacture of Transport Material” (-1.0%).

In the year-on-year period, from July 2012 to July 2013, the greatest increase in prices occurred within the branches of "Manufacture of Pharmaceutical Products", where prices experienced an increase of 2.7%, the "Textile, Garments, Leather & Footwear Industry", with an increase of 2.4%, and “Manufacture of Machinery & Equipment”, where prices rose by 2.0%. In contrast, price falls were registered within the "Metallurgy & Metal Products" (-3.2%), “Electricity, Gas & Steam” and "Timber, Paper & Graphic Arts" (-1.7% in each case), amongst other sectors.

According to the classification of goods by economic destination, the evolution of prices in the large sector groups in July was different in each individual case. The price of Energy rose by 1.2%, whilst the price of Equipment Goods rose by 0.2%. Both the Intermediate Goods sector and the Consumer Goods as a whole underwent no modification in terms of prices (0.0%), in the case of the latter as a result of the fall in prices of Consumer Durables (-0.2%) combined with a rise of the prices of Consumer Non-Durables (0.1%).

The price evolution of these large goods groups also reported falls over the year-on-year period in the majority of cases. Prices corresponding to Energy were down by 1.4%, as were those for Intermediate Goods, which were down by 2.1%, whereas prices corresponding to Consumer Goods as a whole witnessed a fall of 0.3%. Amongst the latter, the prices of Consumer Durables rose by 0.1%, whilst Consumer Non-Durables fell by 0.4%. Equipment Goods, however, registered an increase in prices of 1.2%.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tel: 945 01 75 62 Further press releases on IPRI – Industrial Prices in the Basque Country. Databank on IPRI – Industrial Prices in the Basque Country.