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Press Release 24/08/2015

INDUSTRIAL PRICE INDEX (IPRI) JULY 2015

Industrial prices in the Basque Country decreased by 0.2% in July 2015 with regards to the previous month

They were 2.5% down on the previous year (July 2015 on July 2014)

Industrial prices in the Basque Country decreased by 0.2% in July 2015 with regards to the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for July, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 2.5%.

A more detailed analysis by sector reveals that in July 2015 the most inflationary branches compared to the previous month were Manufacture of Computer, Electronic & Optical Products and Electricity, Gas & Steam, both with a rise of 0.7%. On the other hand, the greatest decreases were seen in the sectors of Coke Plants & Oil Refining, which dropped by 4.1%, and Textile industry, garments, leather & shoes, which was down by 0.1%.

In the year on year period, July 2015 on July 2014, the highest price increases took place in the branches of Manufacture of Pharmaceutical Products, which saw an increase of 1.8% and Manufacture of Transport Material together with Manufacture of Computer, Electronic & Optical Products, whose prices both rose by 1.1%. Conversely, there were decreases in prices corresponding to the sectors of, among others, Coke Plants and Oil Refining, which fell by 19.8%, Food, Beverages & Tobacco, which dropped by 1.4%; and Chemical Industry, down by 1.2%.

According to the classification of goods by economic destination, the evolution of prices in the large sectorial groups in July compared to the previous month was positive for the prices of Equipment Goods, which rose by 0.2%, Intermediate Goods, up by 0.1% and Consumer Goods as a whole, which increased by 0.3% as a consequence of the increase in the prices of Consumer Durables, up 0.5%, and those of Consumer Non-Durables, which experienced a rise of 0.2%. In contrast, Energy was down 1.9%.

The price variation of these large groups of goods was negative in all cases over the year-on-year period, with the exception of Capital Goods, which were up 0.6%. Energy fell by 11.5%, Intermediate Goods were down by 0.5% and Consumer Goods as a whole fell by 0.8%. Among these, the prices of Consumer Non-Durables dropped by 0.9%, while Consumer Durables did so by 0.3%.