Press Release 22/08/2018

INDUSTRIAL PRICE INDEX, JULY 2018

Industrial prices of the Basque Country rose by 0.4% in July 2018 on the previous month

They were 5.2% up on the previous year (July 2018 on July 2017)

Industrial prices of the Basque Country rose by 0.4% in July 2018 on the previous month, according to EUSTAT data. 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 5.2%.

A more detailed sector-level analysis reveals that in July 2018, the most inflationary branches on the previous month were: Coke Plants & Oil Refining and Textile, Garments, Leather & Footwear, up by 1.6% in both cases, and Extraction Industries, with an increase of 0.9%. In contrast, the sectors which posted decreases in prices were: Chemical Industry, with a 0.7% drop, Food, Beverages & Tobacco, down 0.4% and Furniture & Other Manufacturing Industries, Repairs & Installation, with a fall in its prices of 0.1%.

According to the classification of goods by economic destination, and in relation to the previous month, Energy prices rose 1.3%, those of Intermediate Goods by 0.3% and those of Capital Goods were up by 0.1%. Consumer Goods as a whole fell by 0.2%, due to the fall in prices of Consumer Non-Durables (0.2%), while Consumer Durables rose by 0.1%.

In the year-on-year period from July 2017 to July 2018, the greatest increases in prices occurred within the branches of: Coke Plants & Oil Refining, up by 24.0%; Metallurgy & Metal Products, with an increase of 5.9%, and Chemical Industry and Extraction Industries, which rose by 4.7%, in both cases. Conversely, the lowest registered increases in prices corresponded to the sectors of Rubber & Plastics, up by 0.1% and Electronic and Computer Products, with an increase of 0.9%.

The price variation of the large goods groups was positive over the year-on-year period in all cases. Energy increased by 15.7%,Intermediate Goods rose by 4.4% and prices corresponding to Capital Goods were up by 2.0%. The prices of Consumer Goods increased by 1.2%, and among the latter, the prices of Consumer Durables were up by 1.5%, while the prices of Consumer Non- Durables rose by 1.1%.

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