Press Release 09/24/2014

INDUSTRIAL PRICE INDEX OF THE BASQUE COUNTRY (IPRI) AUGUST 2014

Industrial prices in the Basque Country remained stable in August 2014 compared to the previous month

They were 0.4% down on the previous year (August 2014 on August 2013)

Industrial prices in the Basque Country remained unchanged, 0.0%, in August 2014 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 0.4%.

A more detailed analysis by sector reveals that in August 2014 the most inflationary branches compared to the previous month were Electricity, Gas & Steam with an increase of 1.3%, Textile, Garments, Leather & Footwear with a rise of 1.0%, and Chemical Industry, which increased by 0.9%. On the other hand, the greatest decreases in prices were in the sectors of Coke Plants & Oil Refining, which experienced a drop of 1.9%, and Food, Beverages & Tobacco, which was down by 0.9%.

In the year-on-year period, August 2014 on August 2013, the greatest price increases took place in the branches of Electricity, Gas & Steam, up 2.7%, and Timber, Paper & Graphic Arts, with an increase of 0.7%. Conversely, there were decreases in prices corresponding to the sectors of, among others, Coke Plants and Oil Refining, which fell by 5.3%; Extraction Industries, which dropped by 2.8%; and Manufacture of Transport Material, which decreased by 0.9%.

With regards to the classification of goods by economic destination, the price variation in August over the previous month of the large sectorial groups was negative for Energy, whose prices dropped 0.4%, while the prices of Intermediate Goods were up by 0.4% and those of Equipment Goods remained unchanged (0.0%). Consumer Goods as a whole were down 0.5%, as a result of the fall in both the prices of Consumer Non-Durables, which dropped by 0.6%, and Consumer Durables which were down by 0.3%.

The price variation of these large goods groups were negative over the year-on-year period for Energy, which dropped 1.9%, and Equipment Goods, down 0.6%, whereas Intermediate Goodswere up by 0.2%. For their part, prices of Consumer Goods as a whole were down by 0.5%. Among these, the prices of Consumer Durables dropped by 1.3%, while Consumer Non-Durables did so by 0.2%.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tel: 945 01 75 62 Further press releases on IPRI – Industrial Prices in the Basque Country. Databank on IPRI – Industrial Prices in the Basque Country.