Press Release 23/03/2017
Industrial prices of the Basque Country rose by 0.7% in February 2017 on the previous month
They were 4.6% up on the previous year (February 2017 on February 2016)
Industrial prices of the Basque Country rose by 0.7% in February 2017 on the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for February which indicates the fluctuation in industrial prices over the last twelve months, registered an increase of 4.6%.
A more detailed sector-level analysis reveals that in February 2017, the most inflationary branches on the previous month were: Electricity, Gas, Steam & Air Conditioning, which was up 3.4%; Manufacture of Machinery & Equipment with an increase of 1.7%, and Furniture & Other Manufacturing Industries, which rose by 1.2%. On the other hand, the sectors which posted the greatest decreases in prices were: Textile, Garments, Leather & Footwear, with a drop of 3.1%; Chemical Industry, which was down 2.6%, and Coke Plants & Oil Refining, whose prices fell by 0.4%.
Following the classification of Goods by economic destination, with regards to the previous month, Energy posted a 1.7% increase in prices, Capital Goods rose 0.6% and Intermediate Goods were up 0.3%. Consumer Goods as a whole were up 0.2%, as a result of the rise in the prices of Consumer Durables (0.6%), while Consumer Non-durables remained stable (0.0%).
In the year-on-year period from February 2016 to February 2017, the greatest increases in prices occurred within the branches of: Coke Plants & Oil Refining, up by 46.8%; Metallurgy & Metal Products, with an increase of 3.9%, and Food, Beverages and Tobacco Industry, which rose by 2.6%. By contrast, the largest decreases in prices were seen in the sectors of: Rubber, Plastic and other Non-Metallic Minerals, with a 2.1% fall; Manufacture of Computer, Electronic & Optical Products, which dropped 1.1%, and Electricity, Gas, Steam & Air Conditioning, whose prices, together with the Chemical Industry sector, were down 0.7%.
The price variation of these large goods groups was positive over the year-on-year period in all cases. Energy rose by 20.8%, Intermediate Goods were up 1.9%, the prices of Capital Goods increased by 1.4% and those of Consumer Goods as a whole increased by 1.6%. Among the latter, the prices of Consumer Durables increased by 1.0%, while the prices of Consumer Non-durables rose by 1.8%.
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