Press Release 23/06/2021

INDUSTRIAL PRICE INDEX. MAY 2021

Industrial prices in the Basque Country fell by 0.1% in May 2021 in relation to the previous month

On the other hand, compared to May 2020 industrial prices rose by 6.0%

Industrial prices in the Basque Country were down 0.1% in May 2021 on the previous month, according to EUSTAT data. The year-on-year rate for May, which indicates the fluctuation in industrial prices over the last twelve months, stood at 6.0%.

A more detailed analysis reveals that, in May 2021, the most inflationary sectors on the previous month were: Extraction Industries, with a rise of 4.5%; Manufacture of Computer, Electronic & Optical Products, up 2.7%; and Timber, Paper & Graphic Arts, with an increase of 2.5%. In contrast, the sectors that recorded the largest month-on-month decreases in prices were: Manufacture of Transport Material, which fell by 3.2%; Metallurgy & Metal Products; with a drop of 0.5%; and Manufacture of machinery and equipment, down 0.4%.

With regards to the classification of goods by economic destination, there were both positive and negative price fluctuations: Energy prices increased by 1.2% in respect of the previous month; prices of Intermediate Goods rose by 0.3% and those of Consumer Goods, as a whole, were up 0.1%; due to the 0.4% increase in the Consumer Durables sub-sector and the 0.1% rise in that of Consumer Non-durables. In contrast, month-on-month prices of Capital Goods dropped by 1.8%.

In year-on-year terms May 2021 May 2020, the greatest increases in prices occurred within the branches of Coke Plants & Oil Refining, with a rise of 40.8%; Manufacture of Computer, Electronic & Optical Products, which registered an increase of 10.5%; and Metallurgy & Metal Products, up 8.0%. Conversely, the greatest decreases in prices corresponded to the sectors of Textile, Garments, Leather & Footwear, which fell by 11.1%; Manufacture of Transport Material, with a drop of 4.2%; and Extraction Industries, down 2.6%.

Price fluctuations for the large goods groups by economic destination were positive over the year-on-year period for Energy, which posted a 22.6% rise in prices; Intermediate Goods, up 5.2%; and Consumer Goods, as a whole, which registered an increase of 3.1%; explained by the 3.4% rise in prices of Consumer Non-durables and the 1.6% increase in prices of Consumer Durables. In contrast, in year-on-year terms, Capital Goods were down 2.0%.

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