Press Release 24/11/2021

INDUSTRIAL PRICE INDEX. OCTOBER 2021

Industrial prices in the Basque Country rose by 1.1% in October 2021 compared to the previous month

In relation to October 2020 industrial prices increased by 11.5%

Industrial prices in the Basque Country increased by 1.1% October 2021 compared to the previous month, according to EUSTAT data. The year-on-year rate for October, which indicates the fluctuation in industrial prices over the last twelve months, stood at 11.5%.

A more detailed analysis reveals that in October 2021 the most inflationary sectors on the previous month were: Coke Plants & Oil Refining, with an increase of 9.7%, Electricity, Gas & Steam, which rose by 2.0%, and Chemical Industry, up by 1.9%. In contrast, the sectors that recorded the largest month-on-month decreases in prices were Manufacture of Transport Material with a drop of 2.0%; Food, Beverages & Tobacco, which fell by 0.8%; and Metallurgy & Metal Products, down 0.5%.

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 6.3%. In contrast, prices of Capital Goods decreased by 0.8% and those of Consumer Goods as a whole were down 1.0%, influenced by the 1.1% drop in prices of Consumer Non-durables and the 0.2% decrease in those of Consumer Durables. The prices of Intermediate Goods, for their part, remained stable (0.0%).

In year-on-year terms, October 2021 on October 2020, the highest price rises occurred within the branches of Coke Plants & Oil Refining, with a rise of 51.4%; Electricity, Gas & Steam, up 20.2%; and Metallurgy & Metal Products, which registered an increase of 13.9%. Conversely, prices of Manufacture of Transport Material fell by 4.6% and those of Textile, Garments, Leather & Footwear were down 2.9%.

Year-on-year price fluctuations for the large goods groups by economic destination were positive for all of them: Energy prices rose by 38.1%; prices of Intermediate Goods were up 9.4% and those of Capital Goods increased by 0.2%. Consumer Goods, as a whole, registered growth of 3.0%; influenced by the 3.1% 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