Press Release 24/02/2020

INDUSTRIAL PRICE INDEX. JANUARY 2020

Industrial prices in the Basque Country rose by 0.2% in January 2020 compared to the previous month

Compared to January 2019 industrial prices were up 1.5%

Industrial prices in the Basque Country rose by 0.2% in January 2020 on the previous month, according to EUSTAT data. With these data, the year-on-year rate for January, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 1.5%.

A more detailed sector-level analysis reveals that in January 2020 the most inflationary branches on the previous month were: Pharmaceutical Products with an increase of 2.6%, Extraction Industries with a rise of 2.2 % and Water, up 2.1%. On the other hand, the following sectors recorded the largest month-on-month decreases in prices: Coke Plants & Oil Refining with a fall of 0.8%, and Metallurgy & Metal Products, which was down 0.6%.

Following the classification of Goods by economic destination, with regards to the previous month, Capital Goods rose by 1.5%; and Consumer Goods, as a whole, were up 0.4%. Within these, prices of Consumer Durables were up by 0.6%, while in Consumer Non-durables, there was a drop of 0.4%. Intermediate Goods fell by 0.4% and Energy dropped 0.2%.

In year-on-year terms, January 2020 on January 2019, the greatest increases in prices occurred within the branches of Coke Plants & Oil Refining, with 5.9%, Extraction Industries, with 5.5%, and Transport Material, with 3.6%. By contrast, there were decreases registered in prices corresponding to the sectors of: Timber, Paper & Graphic Arts, down 1.6%, Chemical Industry, with a decrease of 1.0% and Metallurgy & Metal Products, which dropped 0.6%.

The price variation of these large goods groups was positive over the year-on-year period for Energy, which rose 4.5%; Capital Goods, up 2.5%; and Consumer Goods, which increased by 1.7%. Among the latter, the prices of Consumer Non-Durables rose by 1.8%, and Consumer Durables were up by 1.4%. On the other hand, the prices of Intermediate Goods experienced a fall of 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