Press Release 24/08/2017

INDUSTRIAL PRICE INDEX, JULY 2017

Industrial prices of the Basque Country fell by 0.2% in July 2017 on the previous month

They were 2.2% up on the previous year (July 2017 on July 2016)

Industrial prices of the Basque Country dropped by 0.2% in July 2017 on the previous month, according to data prepared by EUSTAT. With these data, the year-on-year rate for July, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 2.2%.

A more detailed sector-level analysis reveals that in July 2017, the most inflationary branches on the previous month were: Extraction Industries, which increased its prices by 1.1%, Textile, Garments, Leather & Footwear, with growth of 0.6% and Manufacture of Pharmaceutical Products and Timber paper and graphic arts, which were both up by 0.3%. On the other hand, the sectors which posted the greatest decreases in prices were: Electricity, Gas, Steam & Air Conditioning, which fell by 1.2%, Chemical Industry, which experienced a drop in its prices of 0.8% and Manufacture of Machinery & Equipment Not Classified Elsewhere, which was down by 0.2%.

Following the classification of Goods by economic destination, with regards to the previous month, Energy and Capital Goods posted a decrease in prices of 0.7% and 0.2%, respectively. Intermediate Goods and Consumer Goods, as a whole, did not experience appreciable change in their prices with regards to the previous month (0.0%). Amongst the latter, neither Consumer Durables nor Consumer Non-durables experienced variations in their prices (0.0%).

In the year-on-year period from July 2016 to July 2017, the greatest increases in prices occurred within the branches of: Coke Plants & Oil Refining, up by 10.6%; Metallurgy & Metal Products, with an increase of 4.6%, and Manufacture of Pharmaceutical Products, which rose by 4.3%. By contrast, the largest decreases in prices were seen in the sectors of: Chemical Industry and Electricity, Gas, Steam & Air Conditioning, which fell by 1.6% in both cases and Manufacture of Computer, Electronic & Optical Products, which was down by 0.8%.

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 4.4%, Intermediate Goods by 3.0%, Capital Goods by 1.0% and Consumer Goods by 1.1%. Among the latter, the prices of Consumer Durables increased by 1.0%, while the prices of Consumer Non-durables rose by 1.2%.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tel: 945 01 75 62