Press Release 20/04/2021

INDUSTRIAL PRICE INDEX. MARCH 2021

Industrial prices in the Basque Country rose by 1.1% March 2021 in relation to the previous month

Compared to March 2020 industrial prices were up 3.5%

Industrial prices of the Basque Country increased by 1.1% in March 2021 compared to the previous month, according to EUSTAT data. The year-on-year rate for March, which indicates the fluctuation in industrial prices over the last twelve months, stood at 3.5%.

A more detailed analysis reveals that in March 2021, the most inflationary sectors on the previous month were: Coke Plants & Oil Refining, up 4.5%; Metallurgy & Metal Products, with an increase of 1.8%, and Electricity, Gas, Steam & Air Conditioning, which rose by 1.6%. In contrast, the sectors that recorded the largest month-on-month decreases in prices were: Textile, Garments, Leather & Footwear, down 7.6%; Manufacture of Pharmaceutical Products, which fell by 0.9%; and Water, with a drop of 0.7%.

With regards to the classification of goods by economic destination, price fluctuations were positive for all groups: Energy prices increased by 3.3%; prices of Intermediate Goods rose by 1.0%; prices of Capital Goods were up 0.1%, and those of Consumer Goods as whole increased by 0.2% in respect of the previous month; due to the 0.2% rise in both Consumer Non-Durables and Consumer Durables.

In year-on-year terms, March 2021 on March 2020, the greatest increases in prices occurred within the branches of Coke Plants & Oil Refining, with a rise of 23.8%; Manufacture of Computer, Electronic & Optical Products, which registered an increase of 6.9%; and Metallurgy & Metal Products, up 6.0%. Conversely, the greatest decreases in prices corresponded to the sectors of Textile, Garments, Leather & Footwear, which fell by 9.5%; Extraction Industries, with a drop of 1.8%; and Manufacture of machinery and equipment, down 1.6%.

Price fluctuations for the large goods groups by economic destination were positive over the year-on-year period for Energy, which posted a 10.5% rise in prices; Intermediate Goods, up 3.4%; and Consumer Goods, as a whole, which registered an increase of 2.4%; influenced by the 2.6% rise in prices of Consumer Non-durables and the 1.0% increase in prices of Consumer Durables. In contrast, in year-on-year terms, Capital Goods were down 0.1%.

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