Press Release 24/10/2016
Industrial prices in the Basque Country increased by 0.3% in September 2016 with regards to the previous month
They were 2.4% down on the previous year (September 2016 on September 2015)
Industrial prices in the Basque Country increased by 0.3% in September 2016 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for September, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 2.4%.
The more detailed sectorial analysis reveals that in September 2016 the most inflationary branches on the previous month were Coke Plants & Oil Refining, with an increase in its prices of 4.5%; Extraction Industries, which rose by 0.9%; and the Textile, Garments, Leather & Footwear Industry, with a 0.7% increase in its prices. On the other hand, the greatest decreases in prices were seen in the sectors of Manufacture of Computer, Electronic & Optical Products, whose prices fell 0.6%; Metallurgy & Metal Products and Timber, Paper & Graphic Arts, which fell 0.4%; and Manufacture of Electrical Material & Equipment, which fell 0.3%.
In the year-on-year period, from September 2015 to September 2016, the greatest increase in prices occurred within the branches of Manufacture of Pharmaceutical Products, with an increase of 6.8%; Manufacture of Electrical Material & Equipment, which rose 2.5%; and Food, Beverages & Tobacco Industry, where prices rose by 2.2%. In contrast, there were decreases in prices corresponding to the sectors of, among others, Electricity, Gas, Steam & Air Conditioning, whose prices fell by 9.5%; Coke Plants and Oil Refining, which were down 3.4%, and Rubber, Plastic and other Non-Metallic Mineral Products, with a drop of 3.1%.
According to the classification of Goods by economic destination, the evolution of prices in the large sectorial groups registered distinct changes in September with regards to the previous month. The prices of Intermediate Goods fell 0.3% and Capital Goods dropped 0.1%. The prices of Energy, however, rose 2.5% and those of Consumer Goods were up 0.1%. Amongst the latter, Consumer Non-Durables rose by 0.1%, whilst Consumer Durables fell 0.1%.
The price variation of these large goods groups were negative over the year-on-year period for Energy, which dropped 7.8%, and Intermediate Goods, which were down 2.2%. On the other hand,Capital Goods saw prices increase by 1.0%, whilst the prices of Consumer Goods as a whole increased by 1.2%. Within the latter, the prices of Consumer Durables dropped by 0.2%, while the prices of Consumer Non-Durables rose by 1.7%.
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