Press Release 24/10/2022
INDUSTRIAL PRICE INDEX. SEPTEMBER 2022
Industrial prices in the Basque Country rose by 1.4% in September 2022 compared to the previous month
Industrial prices increased by 20.9% in respect of September 2021
Industrial prices in the Basque Country rose by 1.4% in September 2022 compared to the previous month, according to Eustat data. The year-on-year rate for September, which indicates the fluctuation in industrial prices over the last twelve months, stood at 20.9%.
A more detailed analysis reveals that in September 2022 the most inflationary sectors on the previous month were: Electricity, gas & steam up 9.3%; Timber, paper & graphic arts with a rise of 2.9%; Manufacture of computer, electronic & optical products and Food beverages and tobacco, which both increased by 1.1%. In contrast, the sectors that recorded the largest month-on-month decreases in prices were: Coke plants and oil refining down 3.3%, Manufacture of pharmaceutical products, with a fall of 2.8% and Textile, garments, leather & footwear , which decreased by 1.0%.
With regards to the classification of goods by economic destination, price fluctuations in respect of August 2022 showed an upward trend: Energy prices increased by 3.3%; prices of Consumer goods as a whole rose by 1.0%, influenced by the 1.0% rise in Consumer non-durables and the 0.6% increase in Consumer durables. Intermediate Goods rose by 0.5%, while Capital goods saw an increase of 0.3%.
In year-on-year terms, September 2022 on September 2021, the greatest increases in prices occurred within the branches of Electricity, gas & steam, with a rise of 48.6%; Coke plants & oil refining, up 44.7%; and Chemical industry, which registered an increase of 30.5%. The only sector which registered a decrease in its prices was Textile, garments, leather & footwear, which fell by 3.5%.
Year-on-year price fluctuations for the large goods groups by economic destination were positive for all of them: Energy prices rose by 47.7%; prices of Intermediate Goods were up 18.1% and those of Capital Goods increased by 3.6%. Consumer Goods, as a whole, registered growth of 8.4%, explained by the 9.1% rise in prices of Consumer non-durables and the 4.4% increase in those of Consumer Durables.
Industrial Price Index of the Basque Country. Variation rate (p). September 2022
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 135,2 | 1,4 | 20,9 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 112,6 | 0,8 | 5,2 |
| Manufacturing industry | 128,9 | -0,2 | 16,1 |
| Manufacture of food products, beverages and tobacco products | 121,6 | 1,0 | 10,7 |
| Textile industry, garments, leather & shoes | 100,4 | -1,0 | -3,5 |
| Manufacture of wood and paper products, and printing | 140,4 | 2,9 | 26,8 |
| Coke and refined petroleum | 168,2 | -3,3 | 44,7 |
| Chemical industry | 155,7 | -0,2 | 30,5 |
| Manufacture of pharmaceutical products | 120,2 | -2,8 | 9,3 |
| Rubber, plastic and other non-metallic mineral products | 109,3 | -0,1 | 8,9 |
| Metallurgy and metal products | 139,2 | 0,2 | 19,3 |
| Manufacture of computer, electronic and optical products | 120,8 | 1,0 | 5,5 |
| Manufacture of electrical equipment | 112,8 | 0,0 | 5,0 |
| fabricacion de maquinaria y equipo n.e.c | 109,6 | 0,1 | 4,0 |
| Manufacture of transport material | 106,2 | 0,6 | 0,3 |
| Furniture; other industries; repair and installation | 112,1 | 0,3 | 3,0 |
| Electricity, gas and steam | 173,7 | 9,3 | 48,6 |
| Water | 121,5 | -0,3 | 9,0 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 120,1 | 1,0 | 8,4 |
| Durable consumer goods | 111,5 | 0,6 | 4,4 |
| Nondurable consumer goods | 121,5 | 1,0 | 9,1 |
| Equipment goods | 113,0 | 0,3 | 3,6 |
| Intermediate goods | 131,6 | 0,5 | 18,1 |
| Energy | 175,7 | 3,3 | 47,7 |
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 October 24, 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 index for September was calculated with 93.91% coverage of the sample.
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