Press Release 22/03/2016
Industrial prices in the Basque Country decreased by 0.3% in February 2016 with regards to the previous month
With regards to the previous year (February 2016 on February 2015) they fell by 3.9%
Industrial prices in the Basque Country decreased by 0.3% in February 2016 compared to the previous month, according to data provided by EUSTAT. With these data, the year-on-year rate for February, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 3.9%.
The more detailed sectorial analysis reveals that in February 2016 the most inflationary branches on the previous month were Manufacture of Electrical Material & Equipment, with an increase in its prices of 0.8%; Manufacture of Computer, Electronic & Optical Products, which rose by 0.5%; and Manufacture of Pharmaceutical Products, which grew by 0.3%. On the other hand, the greatest falls in prices occurred in Textile Industry, Leather & Shoes, which was down 3.6%; Extraction Industries, whose prices decreased by 1.3%; and Furniture & Other Manufacturing Industries, Reparation and Installation, which fell by 1.1%.
In the year-on-year period from February 2015 to February 2016, the greatest increase in prices occurred within the branches of Manufacture of Pharmaceutical Products, with an increase of 4.2%; Manufacture of Electrical Material and Equipment, which rose 1.9%; and the sectors of Rubber, Plastic and other Non-Metallic Mineral Products and Manufacture of Transport Material, where prices rose by 1.2%. Conversely, there were decreases in prices corresponding to the sectors of, among others, Coke Plants and Oil Refining, which fell by 28.0%; Metallurgy & Metal Products, which dropped by 4.8%; and Textile, Leather & Footwear Industry, which decreased by 2.0%.
According to the classification of goods by economic destination, the evolution of prices in February for the large sector groups was negative all round, except in Capital Goods, which posted a 0.3% increase in prices. Intermediate Goods were down 0.6%, Energy was down 0.1% and Consumer Goods as a whole fell 0.7%, as a result of the decrease in the prices of Consumer Durables (-0.7%) and the downturn in Consumer Non-Durables (-0.8%).
The price variation of these large goods groups over the year-on-year period were negative for Energy, which fell by 15.7%; for Intermediate Goods, which fell by 2.6%, and for the prices corresponding to Consumer Goods which as a whole decreased by 0.5%. Among the latter, the prices of Consumer Durables dropped by 0.7%, while Consumer Non-Durables fell by 0.4%. Capital Goods, for their part, saw a 0.9% increase in their prices.
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