Press Release 22/01/2015
Industrial prices in the Basque Country decreased by 2.0% in December 2014 with regards to the previous month
They were 3.6% down on the previous year (December 2014 on December 2013)
Industrial prices in the Basque Country decreased by 2.0% in December 2014 with regards to the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for December, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 3.6%.
A more detailed analysis by sector shows that the most inflationary branches in December 2014, with regard to the previous month, were Chemical Industry which rose by 1.3%, Extraction Industries which was up by 1.0% and Furniture & Other Manufacturing Industries; Repair and Installation which rose by 0.4%. On the other hand, the greatest decreases in prices were seen in the sectors of Coke Plants & Oil Refining, where prices fell by 12.6%, Electricity, Gas, Steam & Air Conditioning, which was down by 3.3% and Metallurgy & Metal Products and Manufacture of Pharmaceutical Products which both dropped by 0.5%.
In the year-on-year period, from December 2013 to December 2014, the greatest increase in prices occurred within the branches of Manufacture of Pharmaceutical Products which rose by 1.2%, Manufacture of Computer, Electronic & Optical Products, where prices rose by 1.0% and Metallurgy & Metal Products, which increased by 0.8%. Conversely, there were decreases in prices corresponding to the sectors of, among others, Coke Plants and Oil Refining, which fell by 22.6%; Electricity, Gas, Steam & Air Conditioning, which dropped by 4.8%; and Furniture & Other Manufacturing Industries, which decreased by 4.0%.
With regards to the classification of goods by economic destination, the price variation in December over the previous month of the large sectorial groups was negative for Energy, whose prices dropped by 9.0%, and for Intermediate Goods which fell by 0.3%. There was no change (0.0%) in the prices of Equipment Goods, for their part, and those of Consumer Goods as a whole increased by 0.1% as the result of the increase in the prices of Consumer Non-Durables, which were up 0.1%, whereas there was no change in the price of Consumer Durables (0.0%).
The price variation of these large goods groups were positive over the year-on-year period for Intermediate Goods, which rose 0.1%, whereas Energy fell by 15.9%, Equipment Goods by 0.3%, and Consumer Goods as a whole, by 0.6%. Among these, the prices of Consumer Durables dropped by 1.3%, while Consumer Non-Durables did so by 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