Press Release 23/09/2021

INDUSTRIAL PRICE INDEX. AUGUST 2021

Industrial prices in the Basque Country rose by 0.6% in August 2021 in relation to the previous month

Compared to August 2020 industrial prices increased by 7.8%

Industrial prices in the Basque Country rose by 0.6% in August 2021 in respect of the previous month, according to EUSTAT data. The year-on-year rate for August, which indicates the fluctuation in industrial prices over the last twelve months, stood at 7.8%.

A more detailed analysis reveals that in August 2021 the most inflationary sectors on the previous month were: Electricity, Gas & Steam, which increased by 3.5%; Manufacture of Computer, Electronic & Optical Products, whose prices were up 2.5%; and Metallurgy & Manufacture of Machinery & Equipment, with a rise of 1.3%. In contrast, the sectors that recorded the largest month-on-month decreases in prices were: Manufacture of Transport Material, with a fall of 2.5%; Coke Plants & Oil Refining, down 0.6%; and Food, Beverages & Tobacco, whose prices decreased by 0.2%.

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 increased by 1.6% and prices of Intermediate Goods rose by 0.7%. In contrast, prices of Capital Goods decreased by 0,3% and those of Consumer Goods, as a whole, were down 0.1%, influenced by the 0.2% drop in prices of Consumer Non-durables, given that prices of Consumer Durables rose by 0.1%.

In year-on-year terms August 2021 on August 2020, the greatest increases in prices occurred within the branches of Coke Plants & Oil Refining, with a rise of 29.4%; Metallurgy & Metal Products, which registered an increase of 15.1%; and Manufacture of Computer, Electronic & Optical Products, up 9.8%. Conversely, prices decreased in Textile, Garments, Leather & Footwear, down 8.6%; Manufacture of Transport Material, with a fall of 5.7%; and Extraction Industries, which dropped 2.1%.

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 9.6%; and Consumer Goods, as a whole, which registered growth of 2.8%, explained by the 2.9% rise in prices of Consumer Non-durables and the 2.3% increase in prices of Consumer Durables. In contrast, in year-on-year terms, prices of Capital Goods were down 0.6%.

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