Press Release 22/11/2013
Industrial prices in the Basque Country decreased by 0.5% in October 2013 with regards to the previous month
They were down 1.5% on the previous year (October 2013 on October 2012)
Industrial prices in the Basque Country decreased by 0.5% in October 2013 compared to the previous month, according to data provided by EUSTAT. With these data, the year-on-year rate for October, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 1.5%.
A more detailed sectorial analysis reveals that in October 2013 the branches up on last month were Furniture & Other Manufacturing Industries with an increase of 0.8% and Electricity, Gas & Steam together with Rubber and Plastics, both of which were up 0.5%. However, the biggest price decreases were seen in the sectors of Coke and Oil Refining (-3.4%), Extractive Industries (-0.8%) and Manufacture of Electrical Material & Equipment (-0.6%).
In the year-on-year period, from October 2012 to October 2013, the greatest increase in prices occurred within the branches of Plastic & Rubber with a rise of 4.0%, Manufacture of Machinery and Equipment, up by 2.2% and Manufacture of Pharmaceutical Products, where prices rose by 1.9%. Nonetheless, decreases in prices corresponding to the sectors of Coke Plants & Oil Refining (-6.7%), Metallurgy & Metal Products (-3.0%) and Food, Beverages & Tobacco(-2.8%) were recorded.
According to the classification of goods by economic destination, the evolution of prices in the large sector groups in October was negative for all of them: Energy experienced a drop of 1.8%, Intermediate Goods fell 0.2%, while Capital Goods were down 0.1%. Overall Consumer Goods were down 0.3%, as a result of the fall in the prices of Consumer Durables(-0.3%) and Consumer Non-durables (-0.2%).
The price evolution of these large goods groups over the year-on-year period was positive only for Capital Goods which posted a rise of 1.1%. 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 1.1%. Amongst the latter, the prices of Consumer Non-Durables dropped by 1.4%, whilst Consumer Durables were down 0.3%.
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