Press Release 23/07/2020

INDUSTRIAL PRICE INDEX. JUNE 2020

Industrial prices in the Basque Country rose by 1.1% in June 2020 with regards to the previous month

Compared to June 2019 industrial prices were down 3.9%

Industrial prices in the Basque Country rose by 1.1% in June 2020 on the previous month, according to EUSTAT data. The year-on-year rate for June, which indicates the fluctuation in industrial prices over the last twelve months, stood at -3.9%.

A more detailed analysis reveals that, in June 2020, the most inflationary branches on the previous month were: Coke plants and Oil Refining with an increase of 10.5%, Electricity, Gas & Steam, which registered a rise of 1.7% and Computer, Electronic & Optical Products, whose prices rose by 1.1%. On the other hand, the following sectors recorded the largest month-on-month decreases in prices: Textile, Garments, Leather & Footwear, with a decrease of 2.1% and Manufacture of Machinery and Equipment and Extraction Industries, both down 1.5%.

Following the classification of Goods by economic destination, Energy prices increased by 6.0% in respect of the previous month and those of Intermediate Goods were up 0.4%. In contrast, prices of Capital Goods decreased by 0.4%. Prices of Consumer Goods, as a whole, remained stable (0.0%) and its two subsectors performed differently, given that while Consumer Durables saw a rise of 0.4%, prices of Consumer Non-Durables fell by 0.1%.

In year-on-year terms, June 2020 on June 2019, the greatest increases in prices occurred within the branches of Textile, Garments, Leather & Footwear with a rise of 9.8%; Water, up 4.1%; and Extraction Industries with an increase of 2.7%. Conversely, the greatest decreases in prices corresponded to the sectors of Coke Plants and Oil Refining, which fell by 25.0%; Electricity, Gas, Steam & Air Conditioning, which dropped by 7.6%; and Manufacture of Machinery and Equipment, down 3.8%.

The price variation of the large goods groups by economic destination was positive over the year-on-year period for Consumer Goods as a whole, which registered a rise of 1.4%. Among the latter, the prices of Consumer Non-Durables rose by 1.5%, and Consumer Durables were up by 0.7%. By contrast, decreases in prices were seen in the sectors of Energy, down 17.5%, and Intermediate Goods, with a fall of 0.8%. There was no variation (0.0%) in prices of Capital Goods.

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