Press Release 24/11/2016
INDUSTRIAL PRICE INDEX, OCTOBER 2016
They were down 0.7% on the previous year (October 2016 on October 2015)
Industrial prices in the Basque Country increased by 1.3% in October 2016 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for October, which indicates the fluctuation in industrial prices over the last twelve months, registered a drop of 0.7%.
The more detailed sectorial analysis reveals that in October 2016 the most inflationary branches on the previous month were Coke Plants & Oil Refining, with an increase in its prices of 8.0%; Electricity, Gas, Steam & Air Conditioning, which was up 2.3%; and Manufacture of Computer, Electronic & Optical Products, which saw a 1.5% increase in its prices. On the other hand, the sectors that posted decreases in their prices were: Manufacture of Pharmaceutical Products, whose prices fell 4.3%; Chemical Industry, which was down 0.5%, and Textile, Leather & Footwear which decreased 0.1%.
In the year-on-year period from October 2015 to October 2016, the greatest increases in prices occurred within the branches of Coke Plants & Oil Refining with an increase of 6.4%; Food, Beverages & Tobacco Industry, up by 2.7%, and Manufacture of Machinery and Equipment, where prices rose by 2.4%. In contrast, there were decreases in prices corresponding to the sectors of Electricity, Gas, Steam & Air Conditioning, whose prices fell by 6.3%; Rubber, Plastic and other Non-Metallic Mineral Products, with a 3.1% drop and Metallurgy & Metal Products, with a 1.7% fall.
According to the classification of Goods by economic destination, the price trends in the large sectorial groups were upward in all cases in October with regards to the previous month. The prices of Energy increased by 5.6% and Intermediate Goods were up 0.4%; Capital Goods increased by 0.2% and Consumer Goods by 0.3%. Amongst the latter, those of Consumer Non-Durables rose by 0.3%, whilst those of 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 0.9%, and Intermediate Goods, which were down 1.6%. On the other hand,Capital Goods saw prices increase by 1.3%, whilst the prices of Consumer Goods as a whole increased by 1.2%. Within the latter, the prices of Consumer Durables dropped by 0.6%, while the prices of Consumer Non-Durables rose by 1.8%.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: servicioprensa@eustat.eus Tel: 945 01 75 62
Further press releases on IPRI – Industrial Prices in the Basque Country
Databank on IPRI – Industrial Prices in the Basque Country