Press Release 22/10/2020

INDUSTRIAL PRICE INDEX. SEPTEMBER 2020

Industrial prices in the Basque Country rose by 0.1% in September 2020 compared to the previous month

Compared to September 2019 industrial prices were down 4.0%

Industrial prices in the Basque Country rose by 0.1% in September 2020 compared to the previous month, according to EUSTAT data. The year-on-year rate for September, which indicates the fluctuation in industrial prices over the last twelve months, stood at -4.0%.

A more detailed analysis reveals that, in September 2020, the most inflationary branches on the previous month were: Electricity, Gas & Steam, with an increase of 2.3%; Manufacture of Computer, Electronic & Optical Products, up 1.3%; and Food, Beverages & Tobacco, with a rise of 0.9%. In contrast, the following sectors recorded the largest month-on-month decreases in prices: Coke Plants and Oil Refining, which fell by 3.1%; Textile, Garments, Leather & Footwear, with a drop of 1.2%; and Water, with a fluctuation of -1.1%.

According to the classification of goods by economic destination, and in relation to the previous month, prices of Consumer Goods, as a whole, increased by 0.9%, due to the 1.0% rise in the Consumer Non-durables sub-sector and the 0.1% increase in the Consumer Durables sub-sector. Prices of Capital Goods rose by 0.1% and prices of Intermediate Goods remained stable, whereas in the Energy sector prices fell by 0.1%.

In year-on-year terms, September 2020 on September 2019, the greatest increases in prices occurred within the branches of Water with a rise of 3.3%; Manufacture of Transport Materia, which, together with Manufacture of Computer, Electronic & Optical Products, registered an increase of 3.1%. Conversely, the greatest decreases in prices corresponded to the sectors of Coke Plants and Oil Refining, which fell by 26.5%; Electricity, Gas, Steam & Air Conditioning, which dropped by 8.1%; and Manufacture of Machinery and Equipment, down 4.0%.

Price fluctuations for the large goods groups by economic destination was positive over the year-on-year period for Consumer Goods, as a whole, which registered an increase of 2.2%; influenced by the 2.5% rise in prices of Consumer Non-durables and the 0.8% increase in prices of Consumer Durables. Additionally, in year-on-year terms, prices of Capital Goods were up 0.6%. By contrast, decreases in prices were seen in the sectors of Energy; down 18.4%; and Intermediate Goods; with a fall of 0.5%.

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