Press Release 20/10/2021

INDUSTRIAL PRICE INDEX. SEPTEMBER 2021

Industrial prices in the Basque Country rose by 1.4% in September 2021 compared to the previous month

In relation to September 2020 industrial prices increased by 9.6%

Industrial prices in the Basque Country rose by 1.4% in September 2021 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 9.6%.

A more detailed analysis reveals that in September 2021 the most inflationary sectors on the previous month were: Coke Plants & Oil Refining, up 5.2%, Electricity, Gas & Steam, which increased by 4.0%, and Textile, Garments, Leather & Footwear, with a rise of 3.9%. In contrast, the sectors that recorded the largest month-on-month decreases in prices were Manufacture of Pharmaceutical Products, with a drop of 0.8%, and Metallurgy & Metal Products and Chemical Industry, which both posted a decrease of 0.3%.

With regards to the classification of goods by economic destination, prices showed both positive and negative variations in respect of the previous month. Energy prices rose by 4.9%, those of Capital Goods increased by 1.5% and prices of Consumer Goods as a whole were up by 0.7%, influenced by the 0.8% rise in prices of Consumer Non-durables and the 0.2% increase in those of Consumer Durables. In contrast, prices of Intermediate Goods decreased by 0.2%.

In year-on-year terms, September 2021 on September 2020, the greatest increases in prices occurred within the branches of Coke Plants & Oil Refining, with a rise of 40.4%; Manufacture of Computer, Electronic & Optical Products, which registered an increase of 16.3%; and Metallurgy & Metal Products, up 9.7%. Conversely, prices decreased in Textile, Garments, Leather & Footwear, down 4.0%; Manufacture of Transport Material, with a fall of 2.7%; and Extraction Industries, which dropped 0.2%.

The year-on-year variation of prices for the large groups of goods by economic destination was positive for all of them, with those of Energy rising by 24.8%, the prices of Intermediate Goods up 10.3% and those of Equipment Goods increasing by 0.9%. Consumer Goods, as a whole, registered an increase of 2.7%; influenced by the 2.8% rise in prices of Consumer Non-durables and the 2.4% increase in those of Consumer Durables.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tel.: 945 01 75 62