Press Release 24/04/2017
Industrial prices of the Basque Country fell by 0.4% in March 2017 on the previous month
They were 3.9% up on the previous year (March 2017 on March 2016)
Industrial prices of the Basque Country fell by 0.4% in March 2017 on the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for March, which indicates the fluctuation in industrial prices over the last twelve months, registered an increase of 3.9%.
A more detailed sector-level analysis reveals that in March 2017, the most inflationary branches on the previous month were: Manufacture of Pharmaceutical Products, which increased by 1.7%; Metallurgy & Metal Products, with an increase of 1.0%; and Timber, Paper & Graphic Arts, which was up 0.8%. On the other hand, the sectors which posted the greatest decreases in prices were: Coke Plants & Oil Refining, which was down 5.0%; Extraction Industries, whose prices dropped 2.0%; and Electricity, Gas, Steam & Air Conditioning, which experienced a 1.1% drop in prices.
Following the classification of Goods by economic destination, with regards to the previous month, Intermediate Goods posted a 0.5% increase in prices, and for Capital Goods the prices rose 0.3%. Energy, on the other hand, experienced a 3.4% downturn and Consumer Goods as a whole were down 0.1%, as a result of the decline in the prices of Consumer Durables and Consumer Non-durables, by 0.1% in both cases.
In the year-on-year period from March 2016 to March 2017, the greatest increases in prices occurred within the branches of: Coke Plants & Oil Refining, up by 31.2%; Metallurgy & Metal Products, with an increase of 5.1%, and Manufacture of Pharmaceutical Products, which rose by 3.1%. By contrast, the largest decreases in prices were seen in the sectors of: Extraction Industries, which was down 1.9% and Rubber, Plastic and other Non-Metallic Minerals, which, together with Textile, Garments, Leather & Footwear, was down 1.7%.
The price variation of the large goods groups was positive over the year-on-year period in all cases. Energy rose by 14.3%, Intermediate Goods were up 2.4%, the prices of Capital Goods increased by 1.9% and those of Consumer Goods as a whole increased by 1.7%. Among the latter, the prices of Consumer Non-durables increased by 1.8%, while the prices of Consumer Durables rose by 1.5%.
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