Press Release 24/08/2021

INDUSTRIAL PRICE INDEX. JULY 2021

In July 2021 industrial prices in the Basque Country rose by 0.8% in relation to the previous month

Compared to July 2020 industrial prices increased by 7.6%, led by energy (18.8%) and Intermediate Goods (9.0%)

In July 2021 Industrial prices in the Basque Country rose by 0.8% in relation to the previous month, according to EUSTAT data. The year-on-year rate for July, which indicates the fluctuation in industrial prices over the last twelve months, stood at 7.6%.

A more detailed analysis reveals that in July 2021 the most inflationary sectors on the previous month were: Manufacture of Pharmaceutical Products, where they increased by 3.0%; Electricity, Gas & Steam, up 2.1%; and Coke Plants & Oil Refining with a 2.0% rise in prices. In contrast, the sectors that recorded the largest month-on-month decreases in prices were: Manufacture of Computer, Electronic & Optical Products down 3,9%; Manufacture of machinery and equipment, with a fall of 1.0%; and Extraction Industries , whose prices dropped by 0.5%.

With regards to the classification of goods by economic destination, price variations in respect of the previous month, were positive in all cases. The following price increases were of particular note: Energy, with an increase of 2.2%; Consumer Non-durables, up 0.6%; and Intermediate Goods, which rose by 0.5%. For both Consumer Non-durables and Capital Goods prices increased by 0.3%.

In year-on-year terms July 2021 on July 2020, the greatest increases in prices occurred within the branches of Coke Plants & Oil Refining, with a rise of 29.6%; Manufacture of Computer, Electronic & Optical Products, which registered an increase of 13.9%; and Metallurgy & Metal Products, up 8.5%. Conversely, prices decreased in Textile, Garments, Leather & Footwear , which fell by 15.3%; Extraction Industries, with a drop of 5.7%; and Manufacture of Transport Material, down 3.1%.

Year-on-year price fluctuations for the large goods groups by economic destination were positive for Energy, which posted a 18.8% rise in prices; Intermediate Goods, up 9.0%; and Consumer Goods, as a whole, which registered an increase of 2.9%, explained by the 2.9% rise in prices of Consumer Non-durables and the 2.4% increase in prices of Consumer Durables. In contrast, in year-on-year terms, prices of Capital Goods were down 0.3%.

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