Press Release 24/11/2022
INDUSTRIAL PRICE INDEX. OCTOBER 2022
Industrial prices in the Basque Country rose by 1.9% in October 2022 compared to the previous month
In respect of October 2021, industrial prices increased by 21.8%
Industrial prices in the Basque Country rose by 1.9% in October 2022 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 21.8%.
A more detailed analysis reveals that in October 2022, the most inflationary branches on the previous month were: Textile, Garments, Leather & Footwear , with a rise of 8.1%, Coke Plants & Oil Refining , up 7.9%; and Food, Beverages & Tobacco, with a 2.4% increase. In contrast, the sectors that recorded the largest month-on-month decreases in prices were: Manufacture of Computer, Electronic & Optical Products, with a drop of 2.3%; and Chemical industry , down 1.5%.
As regards the classification of goods by economic destination, prices showed an upward trend in respect of September 2022. Energy prices rose by 5.9%, those of Consumer Goods, as a whole, increased by 2.1%, influenced by the 2.4% rise in prices of Consumer Non-Durables and the 0.4% increase in those of Consumer Durables. Intermediate Goods rose by 0.7% and, finally, Capital goods saw an increase of 0.1%.
In year-on-year terms, October 2022 on October 2021, the greatest increases in prices occurred within the branches of Electricity, Gas & Steam, with a rise of 47.4%; Coke Plants & Oil Refining, up 42.2%; and Chemical Industry, which, along with Timber, Paper & Graphic Arts, registered an increase of 26.1%.
The year-on-year fluctuation in prices was positive for all the large goods groups by economic destination. Energy prices rose by 46.6%, prices of Intermediate Goods were up 19.1% and those of Capital Goods increased by 4.5%. Consumer Goods as a whole registered a 12.1% increase in their prices, explained by the 13.2% rise in prices of Consumer Non-Durables and the 5.0% increase in those of Consumer Durables.
Industrial Price Index of the Basque Country. Variation rate (p). October 2022
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 137,9 | 1,9 | 21,8 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 113,7 | 1,0 | 5,4 |
| Manufacturing industry | 131,5 | 1,9 | 17,3 |
| Manufacture of food products, beverages and tobacco products | 124,5 | 2,4 | 14,3 |
| Textile industry, garments, leather & shoes | 108,6 | 8,1 | 3,8 |
| Manufacture of wood and paper products, and printing | 140,6 | 0,2 | 26,1 |
| Coke and refined petroleum | 181,5 | 7,9 | 42,2 |
| Chemical industry | 153,3 | -1,5 | 26,1 |
| Manufacture of pharmaceutical products | 122,0 | 1,5 | 10,0 |
| Rubber, plastic and other non-metallic mineral products | 110,2 | 0,6 | 9,0 |
| Metallurgy and metal products | 141,1 | 1,0 | 21,4 |
| Manufacture of computer, electronic and optical products | 117,4 | -2,3 | 1,7 |
| Manufacture of electrical equipment | 112,9 | 0,1 | 5,1 |
| fabricacion de maquinaria y equipo n.e.c | 109,9 | 0,2 | 4,0 |
| Manufacture of transport material | 106,8 | 0,6 | 2,9 |
| Furniture; other industries; repair and installation | 113,4 | 0,2 | 4,2 |
| Electricity, gas and steam | 177,3 | 2,0 | 47,4 |
| Water | 123,0 | 1,2 | 9,3 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 122,9 | 2,1 | 12,1 |
| Durable consumer goods | 112,0 | 0,4 | 5,0 |
| Nondurable consumer goods | 124,7 | 2,4 | 13,2 |
| Equipment goods | 113,1 | 0,1 | 4,5 |
| Intermediate goods | 132,8 | 0,7 | 19,1 |
| Energy | 186,0 | 5,9 | 46,6 |
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 November 24, 2022
Source: Eustat Industrial prices index
NOTE
Eustat would like to thank all the establishments that have collaborated in this effort. As a result, the index for October was calculated with 92.14% 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