Press Release 22/03/2019

INDUSTRIAL PRICE INDEX, FEBRUARY 2019

Industrial prices of the Basque Country rose by 0.7% in February 2019 compared to the previous month

They were 2.2% up on the previous year (February 2019 on February 2018)

Industrial prices of the Basque Country rose by 0.7% in February 2019 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for February, which indicates the fluctuation in industrial prices over the last twelve months, registered an increase of 2.2%.

A more detailed sector-level analysis reveals that in February 2019, the most inflationary branches on the previous month were: Coke Plants & Oil Refining, with a 4.8% increase in prices, Extraction Industries, with a rise of 1.7%, and Rubber, Plastic and other Non-Metallic Mineral Products, up 1.0%. On the other hand, the largest decreases in prices were registered in the sectors of Textile, Garments, Leather & Footwear, down 2.8%, Food, Beverages & Tobacco, whose prices decreased by 0.4%, and Manufacture of Pharmaceutical Products, with a fall of 0.3%.

Following the classification of Goods by economic destination, with regards to the previous month, Energy posted a 3.0% increase in prices, Intermediate Goods rose by 0.4% and Capital Goods were up 0.1%. Consumer Goods as a whole fell by 0.2%, as a result of the decrease in the prices of Consumer Non-durables, down 0.4%, as prices of Consumer Durables were up 0.2%.

In the year-on-year period, February 2019 on February 2018, the greatest increases in prices occurred within the branches of: Coke Plants & Oil Refining with 8.2%, Extraction Industries with 5.2% and Timber, Paper & Graphic Arts with 4.0%. By contrast, decreases in prices were seen in the sectors of: Food, Beverages & Tobacco, which fell by 1.5% and Furniture and Other Manufacturing Industries; Repairs and Installation, whose prices were down 0.8%.

There were different price variations between the large industrial groups in the year-on-year period. Energy rose by 6.6%, Intermediate Goods were up 2.1%, the prices of Capital Goods increased by 1.1%, but those of Consumer Goods as a whole fell by 0.3%. Amongst the latter, the prices of Consumer Non-Durables fell by 0.7%, whilst Consumer Durables were up 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