Press Release 23/06/2022
INDUSTRIAL PRICE INDEX. MAY 2022
Industrial prices in the Basque Country increased by 2.9% in May 2022 compared to the previous month
In respect of May 2021, industrial prices rose by 29.7%
Industrial prices in the Basque Country increased by 2.9% in May 2022 compared to 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 29.7%.
A more detailed analysis reveals that, in May 2022, the most inflationary sectors on the previous month were: Coke Plants & Oil Refining, up 7.2%; Metallurgy & Metal Products, with an increase of 5.3%, and Electricity, Gas, & Steam , which rose by 2.1%. In contrast, the sectors that recorded the largest month-on-month decreases in prices were: Textile, garments, leather and footwear industries, with a decrease of 0.6% and both Manufacture of Transport Material and Extraction Industries saw a fall of 0.2%.
With regard to the classification of goods by economic destination, price variations in respect of April 2022 were positive in the Energy sector, where prices rose by 4.8%, in Intermediate Goods, up 3.7%, and in Capital Goods, with growth of 0.1%.
Prices of Consumer Goods, as a whole, increased by 0.9% in relation to the previous month, influenced by the 0.9% growth in Consumer Non-durables and the 0.4% rise in Consumer Durables.
Industrial Price Index of the Basque Country. Variation rate (p). May 2022
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 137,0 | 2,9 | 29,7 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 111,1 | -0,2 | 4,2 |
| Manufacturing industry | 131,3 | 3,1 | 23,4 |
| Manufacture of food products, beverages and tobacco products | 117,7 | 0,7 | 10,2 |
| Textile industry, garments, leather & shoes | 103,2 | -0,6 | 3,4 |
| Manufacture of wood and paper products, and printing | 134,5 | 2,3 | 25,8 |
| Coke and refined petroleum | 180,8 | 7,2 | 70,5 |
| Chemical industry | 149,9 | 1,7 | 30,1 |
| Manufacture of pharmaceutical products | 125,3 | 0,7 | 10,6 |
| Rubber, plastic and other non-metallic mineral products | 107,7 | 0,3 | 8,1 |
| Metallurgy and metal products | 146,0 | 5,3 | 33,6 |
| Manufacture of computer, electronic and optical products | 120,9 | 0,4 | 9,0 |
| Manufacture of electrical equipment | 112,7 | 0,0 | 5,0 |
| fabricacion de maquinaria y equipo n.e.c | 109,1 | 0,3 | 5,1 |
| Manufacture of transport material | 105,0 | -0,2 | 2,0 |
| Furniture; other industries; repair and installation | 111,3 | 0,1 | 3,1 |
| Electricity, gas and steam | 172,0 | 2,1 | 70,2 |
| Water | 121,7 | 0,0 | 8,9 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 116,6 | 0,9 | 8,3 |
| Durable consumer goods | 110,5 | 0,4 | 4,8 |
| Nondurable consumer goods | 117,6 | 0,9 | 8,8 |
| Equipment goods | 113,4 | 0,1 | 7,3 |
| Intermediate goods | 133,6 | 3,7 | 24,9 |
| Energy | 181,2 | 4,8 | 73,6 |
Base 2015=100
(p)Provisional data
m / m-1: Variation rate of the last observed month (m) compared to the previous month (m-1)
m / m-12: Year-on-year variation rate of the last observed month (m) compared to the same month of the previous year (m-12)
Date June 23, 2022
Source: Eustat Industrial prices index
In year-on-year terms, May 2022 on May 2021, the highest price rises occurred within the branches of Coke Plants & Oil Refining, with a rise of 70.5%; Electricity, Gas & Steam, up 70.2 %; and Metallurgy & Metal Products, which registered an increase of 33.6%. The sectors with lower price increases were: Manufacture of Transport Material ,up 2.0% and Furniture & Other Manufacturing Industries , which rose by 3.1%.
Year-on-year price fluctuations for the large goods groups by economic destination were positive for all of them: Energy prices rose by 73.6%; prices of Intermediate Goods were up 24.9% and those of Capital Goods increased by 7.3%. Consumer Goods, as a whole, registered growth of 8.3%; influenced by the 8.8% rise in prices of Consumer Non-durables and the 4.8% increase in those of Consumer Durables.
NOTE
Eustat would like to thank all the establishments that have collaborated in making this effort. As a result, the May index was calculated with 95.09% coverage of the sample, whose information was gathered during May and June.
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