Press Release 24/10/2019

INDUSTRIAL PRICE INDEX, SEPTEMBER 2019

Industrial prices of the Basque Country rose by 1.4% in September 2019 compared to the previous month

They were 0.7% up on the previous year (September 2019 on September 2018)

Industrial prices of the Basque Country rose by 1.4% in September 2019 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for September, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 0.7%.

A more detailed sector-level analysis reveals that in September 2019, the most inflationary branches on the previous month were: Electricity, Gas, Steam & Air Conditioning with an increase of 9.7%; Coke Plants & Oil Refining, up 2.3%; and Extraction Industries, which rose by 1.0%. On the other hand, the largest decreases in prices were registered in the sectors of Timber, Paper & Graphic Arts with a drop of 1.2%, and Textile, Leather, and Footwear, which together with Water, was down 1.0%.

According to the classification of goods by economic destination, and in relation to the previous month, Energy prices rose by 6.5%, those of Capital Goods remained stable (0.0%),whilst those of Intermediate Goods fell by 0.4%. Consumer Goods as a whole decreased month-on-month by 0.1%: Consumer Durables were up 0.1%, whilst the prices of Consumer Non-Durables were down 0.2%.

In year-on-year terms, September 2019 on September 2018, the greatest increases in prices occurred in the branches of Electricity, Gas, Steam & Air Conditioning, which rose by 10.7%; Electrical Material & Equipment, up 2.5%; and Transport Material, which together with Computer, Electronic & Optical Products, increased by 2.0%. By contrast, the largest registered decreases in prices corresponded to the sectors of Textile, Leather & Footwear, down 5.3%; Coke Plants & Oil Refining, with a drop of 4.0%, and Metallurgy & Metal Products, which decreased by 3.0%.

The year-on-year price variation of the large goods groups was positive for Energy, which increased by 3.7%, and for Capital Goods, which rose by 1.4%. Consumer Goods remained unchanged as a consequence of the prices of Consumer Durables rising by 2.2% and those of Consumer Non-durables dropping by 0.3%. Finally, prices of Intermediate Goods decreased by 1.4%.

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