Press Release 22/11/2019

INDUSTRIAL PRICE INDEX, OCTOBER 2019

Industrial prices of the Basque Country rose by 1.1% in October 2019 compared to the previous month

They were 2.0% up on the previous year (October 2019 on October 2018)

Industrial prices of the Basque Country rose by 1.1% in October 2019 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for October, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 2.0%.

A more detailed sector-level analysis reveals that in October 2019, the most inflationary branches on the previous month were: Electricity, Gas, Steam & Air Conditioning with an increase of 7.3%; Water, which rose by 1.0%; and Timber, Paper & Graphic Arts, up 0.6%. On the other hand, the largest decreases in prices were seen in the sectors of: Textile, Garments, Leather & Footwear, with a decrease of 2.1%; Extraction and Petroleum Industries, which fell by 1.2%; and Coke Plants & Oil Refining, down 0.3%.

According to the classification of goods by economic destination, and in relation to the previous month, Energy prices rose by 4.0%, those of Intermediate Goods by 0.2% while those of Capital Goods fell by 0.2%. Consumer Goods as a whole remained stable (0.0%), since prices of Consumer Durables dropped 0.1% and Consumer Non-durables remained unchanged (0.0%).

In year-on-year terms, October 2019 on October 2018, the greatest increases in prices occurred in the branches of Electricity, Gas, Steam & Air Conditioning, with a rise of 22.5%; Extraction and Petroleum Industries, up 3.0%; and Electrical Material & Equipment, which increased by 2.5%. By contrast, the largest registered decreases in prices corresponded to the sectors of Coke Plants & Oil Refining, which fell by 7.1%; Textile, Leather, and Footwear, down 3.8%; and Metallurgy & Metal Products, which decreased by 2.2%.

The year-on-year price variation of the large goods groups was positive for Energy, which increased by 7.7%; Capital Goods, whose prices were up 1.3%; and Consumer Goods, which rose 0.1%, as a consequence of the increase in prices of Consumer Durables (1.6%), since prices of Consumer Non-durables fell by 0.2%. Finally, prices of Intermediate Goods decreased by 0.8%.

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