Press Release 24/01/2017

INDUSTRIAL PRICE INDEX, DECEMBER 2016

Industrial prices in the Basque Country increased by 0.7% in December 2016 in year-on-year terms

With regards to the previous month they were up 1.3%

Industrial prices in the Basque Country were up in December 2016 by 0.7% compared to December of the previous year, according to data prepared by EUSTAT, breaking with the trend of negative year-on-year rates of recent years. With regard to the previous month, November, industrial prices posted growth of 1.3%.

The more detailed sectorial analysis reveals that in December 2016 the most inflationary branches on the previous month were Coke Plants & Oil Refining, with an increase of 10.8%; Electricity, Gas, Steam & Air Conditioning, which was up 1.1%; and Manufacture of Computer, Electronic & Optical Products, which saw a 0.6% increase in its prices. By contrast, the greatest decreases were seen in the sectors of Extraction Industries, which saw its prices fall 1.4% and Furniture, Other Manufacturing Industries, Repairs and Installation which, together with Manufacture of Pharmaceutical Products, was down 0.4%.

In the year-on-year period from December 2015 to December 2016, the greatest increases in prices occurred within the branches of Coke Plants & Oil Refining with an increase of 18.8%; Food, Beverages & Tobacco Industry, up by 3.1%, and Manufacture of Pharmaceutical Products, where prices rose by 2.6%. By contrast, there were decreases in prices corresponding to the sectors of Electricity, Gas, Steam & Air Conditioning, whose prices fell by 7.8%; Rubber, Plastic and other Non-Metallic Mineral Products, with a 3.2% drop and Furniture; other manufacturing; repairs and installation, with a 2.8% fall.

With regards to the classification of goods by economic destination, the price variation in December over the previous month of the large sectorial groups was positive for Energy, whose prices increased by 6.5%; for Intermediate Goods, which rose by 0.3%, and Capital Goods, up 0.2%. Those of Consumer Goods as a whole did not see any appreciable change (0.0%), as a result of the increase in the prices of Consumer Durables, which rose by 0.1%, and those of Consumer Non-Durables, which were up by 0.1%.

The variation of prices in the large sectorial groups in the year-on-year period was positive for the prices of Energy, which rose by 4.2%, Equipment Goods, up by 1.0% and Consumer Goods as a whole, which increased by 1.5% as a consequence of the increase in the prices of Consumer Non-Durables, up 2.1%, whereas those of Consumer Durables experienced a fall of 0.1%. The prices of Intermediate Goods, for their part, were down by 0.5%.

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