Press Release 22/07/2022
INDUSTRIAL PRICE INDEX. JUNE 2022
Industrial prices in the Basque Country rose by 1.1% in June 2022 in relation to the previous month
In respect of June 2021, industrial prices increased by 28.2%
Industrial prices in the Basque Country increased by 1.1% in June 2022 compared to the previous month, according to Eustat data. The year-on-year rate for June, which indicates the fluctuation in industrial prices over the last twelve months, stood at 28.2%.
A more detailed analysis reveals that in June 2022, the most inflationary sectors on the previous month were: Coke Plants & Oil Refining, with an increase of 11.9%; Food, Beverages & Tobacco, which rose by 2.3%; and Extraction industries, up by 1.8%. In contrast, the sectors that recorded the largest month-on-month decreases in prices were: Manufacture of Pharmaceutical Products which decreased by 4.1%, Electricity, Gas & Steam which was down 2.7% and Metallurgy & Metal Products which posted a drop of 1.3%.
With regards to the classification of goods by economic destination, price fluctuations in respect of May 2022 showed both positive and negative variations: Energy prices increased by 4.7%; prices of Consumer Durables rose by 2.0%, influenced by the 2.2% rise in Consumer Non-durables and the 0.3% growth in Consumer Durables. The prices of Intermediate Goods remained stable (0.0%) in regard to the previous month, while Capital Goods saw a 0.8% drop.
Industrial Price Index of the Basque Country. Variation rate (p). June 2022
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 138,3 | 1,1 | 28,2 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 113,1 | 1,8 | 8,3 |
| Manufacturing industry | 133,7 | 1,9 | 23,1 |
| Manufacture of food products, beverages and tobacco products | 120,4 | 2,3 | 12,8 |
| Textile industry, garments, leather & shoes | 102,4 | -0,7 | 2,5 |
| Manufacture of wood and paper products, and printing | 136,2 | 1,3 | 25,8 |
| Coke and refined petroleum | 202,2 | 11,9 | 85,4 |
| Chemical industry | 149,6 | 1,3 | 25,8 |
| Manufacture of pharmaceutical products | 120,2 | -4,1 | 12,0 |
| Rubber, plastic and other non-metallic mineral products | 108,3 | 0,6 | 8,7 |
| Metallurgy and metal products | 144,2 | -1,3 | 26,5 |
| Manufacture of computer, electronic and optical products | 121,0 | 0,1 | 4,4 |
| Manufacture of electrical equipment | 112,7 | 0,0 | 5,0 |
| fabricacion de maquinaria y equipo n.e.c | 108,7 | -0,3 | 3,9 |
| Manufacture of transport material | 105,6 | 0,6 | 1,0 |
| Furniture; other industries; repair and installation | 111,6 | 0,3 | 3,1 |
| Electricity, gas and steam | 167,2 | -2,7 | 61,5 |
| Water | 121,2 | -0,5 | 9,1 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 118,9 | 2,0 | 10,9 |
| Durable consumer goods | 110,9 | 0,3 | 4,5 |
| Nondurable consumer goods | 120,2 | 2,2 | 11,9 |
| Equipment goods | 112,5 | -0,8 | 5,0 |
| Intermediate goods | 133,4 | 0,0 | 21,3 |
| Energy | 189,5 | 4,7 | 76,5 |
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 July 22, 2022
Source: Eustat Industrial prices index
In year-on-year terms, June 2022 on June 2021, the highest price rises occurred within the branches of Coke Plants & Oil Refining, with an increase of 85.4%; Electricity, Gas & Steam, up 61.5%; and Metallurgy & Metal Products, which registered growth of 26.5%. The sectors with lower price increases were: Manufacture of Transport Material, up 1.0% and Textile, Garments, Leather & Footwear, which rose by 2.5%.
Year-on-year price fluctuations for the large goods groups by economic destination were positive for all of them: Energy prices rose by 76.5%; prices of Intermediate Goods were up 21.3% and those of Capital Goods increased by 5.0%. Consumer Goods, as a whole, registered growth of 10.9%; influenced by the 11.9% rise in prices of Consumer Non-durables and the 4.5% 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 June index was calculated with 92.1% 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