Press Release 22/09/2016
Industrial prices in the Basque Country decreased by 0.1% in August 2016 with regards to the previous month
They were 3.3% down on the previous year (August 2016 on August 2015)
Industrial prices in the Basque Country decreased by 0.1% in August 2016 with regards to the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for August, 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 August 2016 the most inflationary branches on the previous month were Manufacture of Pharmaceutical Products, with an increase in prices of 2.7%; Textile, Garments, Leather & Footwear, which rose by 1.4%; and Extraction Industries, which grew by 1.2%. On the other hand, the greatest decreases in prices were seen in the sectors of Electricity, Gas, Steam & Air Conditioning, whose prices fell by 1.2%; Furniture, Other Manufacturing Industries, Repairs and Installation, which were down 1.0%, and Manufacture of Computer, Electronic & Optical Products, which decreased by 0.6%.
In the year-on-year period, from August 2015 to August 2016, the greatest increase in prices occurred within the branches of Manufacture of Pharmaceutical Products, with an increase of 6.2%; Manufacture of Electrical Material & Equipment, which rose 2.8%; and Food, Beverages & Tobacco Industry, where prices rose by 1.5%. In contrast, there were decreases in prices corresponding to the sectors of, among others, Electricity, Gas, Steam & Air Conditioning, whose prices fell by 10.6%; Coke Plants and Oil Refining, which were down 10.1%, and Rubber, Plastic and other Non-Metallic Mineral Products, with a drop of 3.7%.
According to the classification of Goods by economic destination, the evolution of prices in the large sectorial groups registered distinct changes in August with regards to the previous month. Energy prices fell by 0.6% and Capital Goods by 0.1%; however, Intermediate Goods and Consumer Goods were up by 0.2% in both cases. Amongst the latter, Consumer Non-Durables rose by 0.3%, whilst Consumer Durables remained unchanged (0.0%).
The price variation of these large goods groups were negative over the year-on-year period for Energy, which dropped 11.7%, and Intermediate Goods, which were down 2.6%. Capital Goods saw prices increase by 1.1%, whilst the prices of Consumer Goods as a whole increased by 0.8%. Among the latter, the prices of Consumer Durables dropped by 0.3%, while the prices of Consumer Non-Durables rose by 1.2%.
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