Press Release 24/09/2013
Industrial prices of the Basque Country remained unchanged in August 2013 with regards to the previous month
They were 1.5% down on the previous year (August 2013 on August 2012)
Industrial prices in the Basque Country remained unchanged, 0.0%, in August 2013 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for August, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 1.5%.
A more detailed analysis by sector reveals that in August 2013 the most inflationary branches compared to the previous month were Electricity, Gas & Steam (0.9%) and Manufacture of Computer, Electronic & Optical Products, which together with Timber, Paper & Graphic Arts increased by 0.5%. On the other hand, the greatest decreases in prices were seen in the sectors of Manufacture of Electrical Material & Equipment (-1.3%), Extraction Industries (-1.0%) and Furniture & Other Manufacturing Industries (0.6%).
In the year-on-year period, from August 2012 to August 2013, the greatest increase in prices occurred within the branches of Plastic & Rubber with an increase of 3.6%, Manufacture of Pharmaceutical Products, with an increase of 2.5%, and Manufacture of Machinery & Equipment, where prices rose by 2.0%. On the other hand, price drops were recorded in Coke Plants & Oil Refining (-6.6%), Food, Beverages & Tobacco (-3.3%).and Metallurgy & Metal Products (-2.9%), amongst others.
According to the classification of goods by economic destination, the evolution of prices in the large sector groups in August was different in each individual case. The price of Energy rose by 0.6%, and so did the price of Equipment Goods, by 0.1%. The Intermediate Goods sector and that of Consumer Goods as a whole registered the same drop in prices, 0.2%. In this last case, it was as a consequence of the drop both in prices of Consumer Durables (0.3%) and those of Consumer Non-Durables (0.2%).
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 4.3%, as were those for Intermediate Goods, which were down by 1.6%, and prices corresponding to Consumer Goods as a whole witnessed a fall of 1.4%. Amongst the latter, the prices of Consumer Durables dropped by 0.3%, whilst Consumer Non-Durables fell by 1.8%. Equipment Goods, however, registered an increase in prices of 1.2%.
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