Press Release 24/09/2019

INDUSTRIAL PRICE INDEX. AUGUST 2019

Industrial prices in the Basque Country decreased by 0.5% in August 2019 compared to the previous month

They were 0.3% up on the previous year (August 2019 on August 2018)

Industrial prices in the Basque Country decreased by 0.5% in August 2019 compared to the previous month, according to data prepared by EUSTAT. 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 0.3%.

A more detailed sector-level analysis reveals that in August 2019, the most inflationary branches on the previous month were: Textile, Leather, and Footwear Industry, which rose by 1.7%, Extraction industries, up 1.3%, and Furniture and other Manufacturing Industries, with an increase of 0.5% On the other hand, the largest decreases in prices were registered in the sectors of: Coke Plants & Oil Refining, with a decrease of 2.5%, and Electricity, Gas, Steam & Air Conditioning, down 1.6%.

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 0.1%, as a result of the 0.1% increase in prices of Consumer Non-durables, whilst those of Consumer Durables remained unchanged (0.0%). Intermediate Goods prices remained stable (0.0%). However, Energy prices decreased by 2.2%.

In the year on year period, August 2019 on August 2018, the greatest increases in prices occurred within the branches of Transport Material and Electrical Material & Equipment, up 2.5%, in both cases. Electricity, Gas, Steam & Air Conditioning, together with Computer, Electronic & Optical Products, rose by 2.0%. By contrast, the largest registered decreases in prices corresponded to the sectors of Coke Plants & Oil Refining, down 4.2%, Chemical Industry, with a fall of 1.4%, and Textile, Leather, and Footwear Industry, with a decrease of 1.3%.

The price variation of the large goods groups was positive over the year-on-year period for Capital Goods, up 1.8%; Intermediate Goods, which rose by 0.3 and Consumer Goods, with an increase of 0.4%; amongst the latter, prices of Consumer Durables rose by 2.2%, and those of Consumer Non-Durables by 0.1%. Energy was down 0.9%.

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