Press Release 23/06/2017
Industrial prices of the Basque Country fell by 0.7% in May 2017 on the previous month
They were 2.9% up on the previous year (May 2017 on May 2016)
Industrial prices of the Basque Country dropped by 0.7% in May 2017 on the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for May, which indicates the fluctuation in industrial prices over the last twelve months, registered an increase of 2.9%.
A more detailed sector-level analysis reveals that in May 2017, the only inflationary branches on the previous month were: Timber, Paper & Graphic Arts with 0.2% and Metallurgy & Metal Products with 0.1%. On the other hand, the sectors which posted the greatest decreases in prices were: Coke Plants & Oil Refining, which fell by 4.3%, Electricity, Gas, Steam & Air Conditioning, whose prices dropped by 1.8%, and Extraction Industries, which experienced a decrease in its prices of 1.0%.
Following the classification of Goods by economic destination, with regards to the previous month, Intermediate Goods posted a 0.1% increase in prices. Capital Goods fell by 0.2% and in Energy the prices experienced a downturn of 3.4%. 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 0.2%, and the decrease of Consumer Non-Durables, which were down by 0.1%.
In the year-on-year period from May 2016 to May 2017, the greatest increases in prices occurred within the branches of: Coke Plants & Oil Refining, up by 16.6%; Metallurgy & Metal Products, with an increase of 5.6%, and Manufacture of Pharmaceutical Products, which rose by 3.4%. By contrast, the largest decreases in prices were seen in the sectors of: Rubber, Plastic and other Non-Metallic Mineral Products, which was down by 2.2%, Extraction Industries , which fell by 1.6% and Chemical Industries, which dropped by 1.1%.
The price variation of the large goods groups was positive over the year-on-year period in all cases. Energy posted a rate of 8.4%, Intermediate Goods offered a rate of 2.8%, for Capital Goods the rate stood at 1.8% and that of Consumer Goods was 0.4%. Among the latter, the prices of Consumer Durables increased by 0.9%, while the prices of Consumer Non-durables rose by 0.3%.
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