Press Release 21/07/2016
Industrial prices of the Basque Country rose by 0.6% in June 2016 on the previous month
They were 3.3% down on the previous year (June 2016 on June 2015)
Industrial prices of the Basque Country rose by 0.6% in June 2016 on the previous month, according to EUSTAT data. With these data, the year-on-year rate for June, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 3.3%.
The more detailed sectorial analysis reveals that in June 2016 the most inflationary branches compared with the previous month were Coke Plants & Oil Refining, which saw prices rise by 3.6%, Metallurgy & Metal Products which rose by 0.8%, and Manufacture of Transport Material and Electricity, Gas, Steam and Air Conditioning, both of which saw a 0.7% rise in prices. On the other hand, the greatest decreases in prices were seen in the sectors of Furniture, Other Manufacturing Industries, Repairs and Installation, which saw prices fall by 0.5%, Textile, Garments, Leather & Footwear, where prices fell by 0.4% and Foods, Beverages and Tobacco Industry and Chemical Industry, which both saw a 0.3% decrease in prices.
In the year-on-year period, from June 2015 to June 2016, the greatest increase in prices occurred within the branches of Manufacture of Pharmaceutical Products, with an increase of 2.9%; Manufacture of Electrical Material & Equipment, which rose 2.6%; and Food, Beverages & Tobacco Industry, where prices rose by 1.7%. Conversely, there were decreases in prices corresponding to the sectors of, among others, Coke Plants and Oil Refining, which fell by 19.9%; Electricity, Gas, Steam & Air Conditioning, which dropped by 4.7%; and Metallurgy & Metal Products, which was down 3.7%.
With regards to the classification of goods by economic destination, the price variation in June compared to the previous month of the large sectorial groups was positive for all of them, except in Consumer Goods, which saw prices decrease by 0.2% due to the decrease experienced by Consumer Non-Durables, where prices fell by 0.3%, whilst Consumer Durables did not experience any variation (0.0%). The prices of Energy rose by 2.3% and the prices of Intermediate Goods and Capital Goods both saw prices increase by 0.5%.
The price variation of these large goods groups were negative over the year-on-year period for Energy, which dropped 13.7%, and Intermediate Goods, which were down 2.0%. Capital Goods saw prices increase by 1.2%, whilst the prices of Consumer Goods as a whole increased by 0.8%. Among the latter, the prices of Consumer Durables dropped by 0.1%, while the prices of Consumer Non-Durables rose by 1.1%.
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