Press Release 23/08/2019

INDUSTRIAL PRICE INDEX. JULY 2019

Industrial prices in the Basque Country decreased by 0.2% in July 2019 with regards to the previous month

They were 1.2% up on the previous year (July 2019 on July 2018)

Industrial prices in the Basque Country decreased by 0.2% in July 2019 compared to the previous month, according to data provided 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 1.9%.

A more detailed sector-level analysis reveals that in July 2019, the most inflationary branches on the previous month were: Textile, Leather & Footwear, up 4.9%; Coke Plants & Oil Refining with an increase of 1.9%; and Water with a rise of 1.0%. On the other hand, the largest decreases in prices were registered in the sectors of: Electricity, Gas, Steam & Air Conditioning, which experienced a 2.8% drop in prices and Timber, Paper & Graphic Arts, with a fall in prices of 0.6%.

Following the classification of Goods by economic destination, compared to the previous month, Capital Goods rose by 0.1% and Consumer Goods, as a whole, were up 0.6%, as a result of the 0.7% increase in prices of Consumer Non-durables, whilst those of Consumer Durables remained unchanged (0.0%). However, Energy prices fell by 0.5% and prices of Intermediate Goods fell by 0.2%.

In the year-on-year period from July 2018 to July 2019, the greatest increases in prices occurred within the branches of: Electricity, Gas, Steam & Air Conditioning, which rose by 6.9% and Transport Material and Electrical Material & Equipment, with an increase of 2.5% in both cases. By contrast, the largest registered decreases in prices corresponded to the sectors of Textile, Leather & Footwear down 2.3%, Computer, Electronic & Optical Products with a fall of 1.4% and Coke Plants & Oil Refining, with a decrease of 1.1%.

The price variation of these large goods groups was positive over the year-on-year period for Energy, which rose 3.4%, Capital Goods, up 1.7%, and for Intermediate Goods, whose prices increased by 0.3%. Capital Goods prices remained stable (0.0%). Amongst the latter, the prices of Consumer Durables increased by 2.2%, while the prices of Consumer Non-durables fell by 0.3%.

For further information:

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