Press Release 24/06/2014
Industrial prices in the Basque Country remained unchanged in May 2014 compared to the previous month
They were 0.7% down on the previous year (May 2014 on May 2013)
Industrial prices in the Basque Country remained unchanged (0.0%) in May 2014 compared to the previous month, according to data provided by EUSTAT. With these data, the year-on-year rate for May, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 0.7%.
A more detailed analysis by sector reveals that in May 2014 the most inflationary branches compared to the previous month were Electricity, Gas & Steam and Furniture & Other Manufacturing Industries, both with increases of 0.4%, along with Timber, Paper & Graphic Arts, which increased by 0.3%. On the other hand, the greatest decreases in prices were seen in Extraction Industries, which fell by 1.0%, Coke Plants & Oil Refining, where prices dropped by 0.7 %, and Manufacture of Computer, Electronic & Optical Products which, along with Manufacture of Pharmaceutical Products, saw prices fall by 0.5%.
During the year-on-year period, May 2014 on May 2013, the highest price rises were recorded by Timber, Paper & Graphic Arts, where they grew by 1.4%, and Electricity, Gas & Steam, which rose by 0.9%. In contrast, there were decreases in prices corresponding to the sectors of, among others, Extraction Industries, which fell by 3.4%, Coke Plants & Oil Refining, which were down by 2.8%, and Metallurgy & Metal Products, which were down by 1.6%.
According to the classification of goods by economic destination, the variation of prices in May compared to the previous month in the large sectorial groups varied: Intermediate Goods, along with Capital Goods, experienced a rise of 0.1%, Energy saw a fall in its prices of 0.2%, and Consumer Goods as a whole remained unchanged (0.0%), as a consequence of Consumer Non-Durables remaining unchanged (0.0%), even though the prices of Consumer Durables fell (-0.1%).
The price fluctuation of these large goods groups showed the same indications over the year-on-year period for Energy, which decreased by 1.3%; Intermediate Goods, which registered a fall of 1.0%, and prices corresponding to Capital Goods, which fell by 0.5%. However, prices of Consumer Goods as a whole were up by 0.2%. Amongst the latter, the prices of Consumer Durables dropped by 0.9%, whereas Consumer Non-Durables rose by 0.5%.
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