Press Release 22/12/2020

INDUSTRIAL PRICE INDEX. NOVEMBER 2020

Industrial prices in the Basque Country rose by 1.1% in November 2020 in relation to the previous month

Compared to November 2019 industrial prices were down 2.6%

Industrial prices in the Basque Country increased by 1.1% in November 2020 compared to the previous month, according to data provided by Eustat. The year-on-year rate for November, which indicates the fluctuation in industrial prices over the last twelve months, stood at -2.6%.

A more detailed analysis reveals that in November 2020, the most inflationary sectors on the previous month were: Electricity, Gas & Steam, which increased by 4.0%; Manufacture of Computer, Electronic & Optical Products, up 2.0% and Metallurgy & Metal Products, with a rise of 1.5%. In contrast, the following sectors recorded the largest month-on-month decreases in prices: Timber, Paper & Graphic Arts, down 0.7%, Extraction Industries, which dropped by 0.3% and Rubber, Plastic & Non-Metallic Minerals, with a variation of -0.2%.

As regards the classification of goods by economic destination, all price variations were positive: Energy prices rose by 3.1%; those of Intermediate Goods were up 0.8%; whilst prices of Capital Goods increased by 0.2%. Compared to the previous month, prices of Consumer Goods as a whole increased by 0.4%, due to the 0.5% rise in the Consumer Non-durables sub-sector, given that prices in the Consumer Durables sub-sector remained unchanged (0.0%).

In year-on-year terms, November 2020 on November 2019, the greatest increases in prices occurred within the branches of Manufacture of Computer, Electronic & Optical Products with a rise of 3.8%; Manufacture of Transport Material, up 3.1%; and Food, Beverages & Tobacco, with growth of 3.0%. Conversely, the greatest decreases in prices corresponded to the sectors of Coke Plants and Oil Refining, which fell by 24.2%; Manufacture of Machinery and Equipment, with a drop of 3.2%; and Timber, Paper & Graphic Arts, down 2.8%.

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 3.0%; influenced by the 3.3% rise in prices of Consumer Non-durables and the 0.9% increase in prices of Consumer Durables. Additionally, in year-on-year terms, prices of Capital Goods were up 0.8%. By contrast, decreases in prices were seen in the sectors of Energy; down 14.2%; and Intermediate Goods; with a fall of 0.4%.

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