Press Release 24/09/2018

INDUSTRIAL PRICE INDEX, AUGUST 2018

Industrial prices of the Basque Country rose by 0.5% in August 2018 on the previous month

They were 5.1% up on the previous year (August 2018 on August 2017)

Industrial prices of the Basque Country rose by 0.5% in August 2018 on the previous month, according to EUSTAT data. 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 5.1%.

A more detailed sector-level analysis reveals that in August 2018, the most inflationary branches on the previous month were: Electricity, Gas, Steam & Air Conditioning with an increase of 1.7%, Chemical Industry up 1.4% andCoke Plants & Oil Refining and Textile, Garments, Leather & Footwear, which both registered a rise of 1.0%. On the other hand, the sectors which posted the greatest decreases in prices were: Manufacture of Pharmaceutical Products, which experienced a 1.0% drop in prices; Manufacture of Computer, Electronic & Optical Products whose prices decreased by 0.8%, andFood, Beverages & Tobacco, down 0.3%.

According to the classification of goods by economic destination, and in relation to the previous month, Energy prices rose 1.5%, those of Intermediate Goods by 0.4% and those of Capital Goods were up by 0.1%. Consumer Goods as a whole were down by 0.1% as a result of the drop both in prices of Consumer Durables and those of Consumer Non-Durables, both decreasing by 0.1%.

In the year-on-year period from August 2017 to August 2018, the greatest increases in prices occurred within the branches of: Coke Plants & Oil Refining, up by 23.6%; Metallurgy & Metal Products, with an increase of 5.6%, and Electricity, Gas, Steam & Air Conditioning and Extraction Industries, which rose by 4.6%, in both cases. Conversely, the lowest registered increases in prices corresponded to the sectors of Electronic and Computer Products, with an increase of 0.2% and Rubber & Plastics and Manufacture of Pharmaceutical Products which were up 0.4%, in both cases.

The price variation of the large goods groups was positive over the year-on-year period in all cases. Energy increased by 15.5%,Intermediate Goods rose by 4.3% and prices corresponding to Capital Goods were up by 2.0%. The prices of Consumer Goods increased by 1.1%, and among the latter, the prices of Consumer Non-Durables were up by 1.1%, while the prices of Consumer Durables rose by 1.0%.

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