Press Release 22/09/2017
Industrial prices in the Basque Country rose by 0.2% in August 2017 with regards to the previous month
They were 2.5% up on the previous year (August 2017 on August 2016)
Industrial prices in the Basque Country rose by 0.2% in August 2017 on the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for August, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 2.5%.
A more detailed sector-level analysis reveals that in August 2017, the most inflationary branches on the previous month were: Chemical Industry, which increased its prices by 1.6%; Coke Plants & Oil Refining, up by 1.3%, and Manufacture of Pharmaceutical Products, which rose by 1.2%. On the other hand, the sectors which posted the greatest decreases in prices were: Extraction Industries, which fell by 0.4%; Manufacture of Computer, Electronic & Optical Products, which experienced a decrease of 0.2%, and Metallurgy & Metal Products, Timber, Paper & Graphic Arts and Food, Beverages and Tobacco Industry, all with a drop of 0.1%.
Following the classification of Goods by economic destination, with regards to the previous month, Energy and Capital Goods posted an increase in prices of 1.0% and 0.2%, respectively. Intermediate Goods did not experience appreciable change in their prices with regards to the previous month (0.0%), whilst Consumer Goods as a whole dropped by 0.1%. Within these, Consumer Durables fell by 0.2%, whilst in Consumer Non-durables there was a downturn of 0.1%.
In the year-on-year period from August 2016 to August 2017, the greatest increases in prices occurred within the branches of: Coke Plants & Oil Refining, up by 11.7%; Metallurgy & Metal Products, with an increase of 4.1%, and Manufacture of Pharmaceutical Products, which rose by 2.5%. By contrast, the largest decreases in prices were seen in the sectors of: Extraction Industries, which dropped by 3.0%; Chemical Industry, which decreased by 0.5%, and Manufacture of Computer, Electronic & Optical Products, which fell by 0.3%.
The price variation of the large goods groups was positive over the year-on-year period in all cases: Energy grew at a rate of 6.0%, Intermediate Goods by 2.7%, Capital Goods by 1.5% and Consumer Goods by 0.9%. Amongst the latter, the prices of Consumer Durables rose by 1.1%, and Consumer Non-Durables were up by 0.9%.
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