Press Release 23/09/2022
INDUSTRIAL PRICE INDEX. AUGUST 2022
Industrial prices in the Basque Country decreased by 1.0% in August 2022 in relation to the previous month
Compared to August 2021 industrial prices increased by 21.3%
Industrial prices in the Basque Country were down 1.0% in August 2022 in relation to 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 21.3%.
A more detailed analysis reveals that in August 2022 the most inflationary sectors on the previous month were: Extraction Industries, up 1.5%; Chemical Industry, which increased by 1.0%; and Manufacture of Pharmaceutical Products, where prices rose by 0.7%. In contrast, the sectors that recorded the largest month-on-month decreases in prices were: Coke Plants & Oil Refining , down 5.4%; Textile, Garments, Leather & Footwear, which decreased by 1.1%; and Metallurgy & Metal Products where prices fell by 1.0%.
With regard to the classification of goods by economic destination, price fluctuations in respect of July 2022 were all negative, except for Capital Goods, which saw prices rise by 0.2%. Energy prices were down 3.0%, prices of Intermediate Goods fell by 0.6%, while those of Consumer Goods as a whole decreased by 0.2%; influenced by the 0.2% drop in prices of Consumer Non-Durables given that prices of Consumer Durables remained stable (0.0%).
In year-on-year terms, August 2022 on August 2021, the highest price rises occurred within the branches of Coke Plants & Oil Refining, with a rise of 57.4%; Electricity, Gas & Steam, up 43.3%; and Chemical Industry, which registered an increase of 29.8%. The sectors with lower price increases were: Textile, Garments, Leather & Footwear , which rose by 1.3% and Manufacture of transport material , up 2.8%.
Year-on-year price fluctuations for the large goods groups by economic destination were positive for all of them: Energy prices rose by 51.2%; prices of Intermediate Goods were up 17.3% and those of Capital Goods increased by 5.0%. Consumer Goods, as a whole, registered growth of 10.4%, explained by the 11.5% rise in prices of Consumer Non-durables and the 3.9% increase in those of Consumer Durables.
Industrial Price Index of the Basque Country. Variation rate (p). August 2022
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 133,2 | -1,0 | 21,3 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 111,7 | 1,5 | 7,2 |
| Manufacturing industry | 129,1 | -1,2 | 17,7 |
| Manufacture of food products, beverages and tobacco products | 120,4 | -0,1 | 12,7 |
| Textile industry, garments, leather & shoes | 101,5 | -1,1 | 1,3 |
| Manufacture of wood and paper products, and printing | 136,5 | -0,1 | 24,0 |
| Coke and refined petroleum | 174,0 | -5,4 | 57,4 |
| Chemical industry | 154,9 | 1,0 | 29,8 |
| Manufacture of pharmaceutical products | 123,7 | 0,7 | 11,5 |
| Rubber, plastic and other non-metallic mineral products | 109,4 | 0,0 | 8,9 |
| Metallurgy and metal products | 138,9 | -1,0 | 18,7 |
| Manufacture of computer, electronic and optical products | 119,8 | -0,8 | 4,7 |
| Manufacture of electrical equipment | 112,8 | 0,0 | 5,0 |
| fabricacion de maquinaria y equipo n.e.c | 109,5 | -0,1 | 4,0 |
| Manufacture of transport material | 105,6 | 0,3 | 2,8 |
| Furniture; other industries; repair and installation | 111,7 | 0,6 | 2,9 |
| Electricity, gas and steam | 158,9 | -0,1 | 43,3 |
| Water | 121,9 | -0,3 | 9,0 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 118,9 | -0,2 | 10,4 |
| Durable consumer goods | 110,7 | 0,0 | 3,9 |
| Nondurable consumer goods | 120,3 | -0,2 | 11,5 |
| Equipment goods | 112,7 | 0,2 | 5,0 |
| Intermediate goods | 130,9 | -0,6 | 17,3 |
| Energy | 170,1 | -3,0 | 51,2 |
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 September 23, 2022
Source: Eustat Industrial prices index
NOTE
Eustat would like to thank all the establishments that have collaborated in making this effort. As a result, the August index was calculated with 92.73% coverage of the sample, whose information was gathered during August and September.
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