Press Release 24/03/2014
Industrial prices in the Basque Country decreased by 0.1 % in February 2014 with regards to the previous month
With regards to the previous year (February 2014 on February 2013) they fell by 1.9%
Industrial prices in the Basque Country decreased by 0.1% in February 2014 compared to the previous month, according to data provided by EUSTAT. With these data, the year-on-year rate for February, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 1.9%.
The more detailed sectorial analysis reveals that in February 2014, the most inflationary branches on the previous month were Manufacture of Computer, Electronic & Optical Products with an increase in its prices of 1.0%; Coke Plants & Oil Refining, which rose by 0.9%; and Plastics & Rubber, which grew by 0.3%. On the other hand, there were larger price decreases in the sectors of Electricity, Gas & Steam, with a fall of 1.5%, and Manufacture of Electrical Material & Equipment, which, together with Furniture & Other Manufacturing Industries, experienced a drop of 1.0%.
In the year on year period, February 2014 on February 2013, the greatest increases in prices took place in the branches of Timber, Paper & Graphic Arts, with an increase of 0.5%; Chemical Industry, with a rise of 0.4%; and Manufacture of Pharmaceutical Products, which, together with Plastics & Rubber, grew by 0.3%. Conversely, there were decreases in prices corresponding to the sectors of, among others, Coke Plants and Oil Refining, which fell by 8.0%; Extraction Industries, which dropped by 2.8%; and Metallurgy and Metal Products, which decreased by 2.5%.
According to the classification of goods by economic destination, the variation of prices in February compared to the previous month in the large sectorial groups varied: Energy saw a fall in its prices of 0.3% and Capital Goods decreased by 0.2%, whereas there was no change in Intermediate Goods (0.0%). Consumer Goods as a whole remained stable (0.0%), as a result of the rise in the prices of Consumer Non-Durables (0.1%), and the decrease in those of Consumer Durables (-0.5%).
The price variation of these large goods groups showed the same indications over the year-on-year period in all cases. Energy decreased by 5.5%, Intermediate Goods registered a fall of 1.7%, the prices corresponding to Capital Goods dropped by 0.6%, and Consumer Goods as a whole decreased by 0.2%. Amongst the latter, the prices of Consumer Durables dropped by 0.8%, whilst Consumer Non-Durables did not register a change 0.0%.
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