Press Release 23/06/2016
Industrial prices of the Basque Country rose by 0.8% in May 2016 on the previous month
They were 4.0% down on the previous year (May 2016 on May 2015)
Industrial prices of the Basque Country rose by 0.8% in May 2016 on the previous month, according to data prepared 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 4.0%.
The more detailed sectorial analysis reveals that in May 2016 the most inflationary branches on the previous month were Coke Plants & Oil Refining, with an increase in its prices of 7.5%; Food, Beverages & Tobacco Industry, which rose by 0.6%; and Metallurgy & Metal Products, which grew by 0.6%. On the other hand, the greatest decreases in prices were seen in the sectors of Manufacture of Computer, Electronic & Optical Products, which was down 0.6%; Furniture, Other Manufacturing Industries, repairs and installation, whose prices fell by 0.6%; and Electricity, Gas, Steam & Air Conditioning, which was down 0.2%.
In the year-on-year period, from May 2015 to May 2016, the greatest increase in prices occurred within the branches of Manufacture of Pharmaceutical Products, with an increase of 2.3%; Manufacture of Electrical Material & Equipment, which rose 1.8%; and Food, Beverages & Tobacco Industry, where prices rose by 1.5%. Conversely, there were decreases in prices corresponding to the sectors of, among others, Coke Plants and Oil Refining, which fell by 24.4%; Metallurgy & Metal Products, which dropped by 4.7%; and Electricity, Gas, Steam and Air Conditioning, which decreased by 3.1%.
With regards to the classification of goods by economic destination, the price variation in May of the large sectorial groups was positive for all of them, except in Capital Goods, whose prices fell by 0.1% compared to the previous month. Energy prices were up 3.6%, Intermediate Goods rose 0.4%, and Consumer Goods as a whole saw an upturn of 0.3%. Amongst the latter, there was a 0.5% increase in Consumer Non-Durables, whilst Consumer Durables saw no appreciable change (0.0%).
The price variation of these large goods groups were negative over the year-on-year period for Energy, which dropped 15.5%, and Intermediate Goods, which were down 2.7%. The prices of Consumer Goods as a whole were up by 0.7%. Among the latter, the prices of Consumer Durables dropped by 0.4%, while Consumer Non-Durables rose by 1.1%. Capital Goods, for their part, saw a 0.7% 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