Press Release 24/04/2014
Industrial prices in the Basque Country decreased by 0.2% in March 2014 with regards to the previous month
Compared to the previous year (March 2014 and March 2013) they decreased by 1.6%
Industrial prices in the Basque Country decreased by 0.2% in March 2014 with regards to the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for March, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 1.6%.
The more detailed sectorial analysis reveals that in March 2014 the most inflationary branches on the previous month wereManufacture of Computer, Electronic & Optical Products and Extraction Industries, both with an increase in their prices of 0.6%; and Manufacture of Machinery and Equipment, which rose by 0.2%. On the other hand, the greatest decreases in prices were seen in the sectors of Electricity, Gas & Steam which, along with Coke Plants & Oil Refining, saw a drop of 0.9% and Furniture & Other Manufacturing Industries, with a fall in its prices of 0.5%.
In the year-on-year period, from March 2013 to March 2014, the greatest increase in prices occurred within the branches of Manufacture of Pharmaceutical Products, with an increase of 1.5%, Electricity, Gas & Steam, which rose 1.2%, and Chemical Industry, where prices rose by 0.6%. Conversely, there were decreases in prices corresponding to the sectors of, among others, Coke Plants and Oil Refining, which fell by 6.8%, Furniture & Other Manufacturing Industries, which dropped by 2.6%; and Manufacture of Electrical Material & Equipment, which decreased by 2.4%.
According to the classification of goods by economic destination, the variation of prices in March compared to the previous month in the large sectorial groups varied: Equipment Goods rose by 0.2%, whereas there was no change in Intermediate Goods (0.0%). Energy saw a fall in its prices of 1.0% and Consumer Goods as a whole decreased by 0.2%, as a result of the fall in the prices of Consumer Durables (-0.2%) and Consumer Non-durables (-0.1%).
The price variation of these large goods groups showed the same indications over the year-on-year period in all cases. Energy decreased by 4.1%, Intermediate Goods registered a fall of 1.8%, and the prices corresponding to Equipment Goods and Consumer Goods as a whole decreased by 0.4%. Amongst the latter, the prices of Consumer Durables dropped by 1.6%, 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