Press Release 22/12/2022
INDUSTRIAL PRICE INDEX. NOVEMBER 2022
Industrial prices in the Basque Country fell by 2.7% in November 2022 in relation to the previous month
Compared to November 2021, industrial prices rose by 17.8%
Industrial prices in the Basque Country fell by 2.7% in November 2022 compared to the previous month, according to Eustat data. The year-on-year rate for November, which indicates the fluctuation in industrial prices over the last twelve months, stood at 17.8%.
A more detailed analysis reveals that in November 2022, the sectors that registered the most pronounced decreases in prices were: Coke Plants and Oil Refining , with a fall of 9.6%; Electricity, Gas & Steam, down 5.8%; and Manufacture of Computer, Electronic & Optical Products, which dropped by 2.3%. In contrast, the sectors that experienced month-on-month increases in their prices were: Textile, Garments, Leather & Footwear with an increase of 4.2%; Extraction Industries, up 2.9%; and Manufacture of Pharmaceutical Products, which rose by 2.7%.
With regards to the classification of goods by economic destination, price fluctuations in respect of October 2022 in Consumer Goods were 0.7%, explained by the 0.8% rise in Consumer Non-durables and the 0.3% increase in Consumer Durables. Energy prices, however, were down 8.1%, prices of Intermediate Goods fell by 1.0% and, finally, Capital Goods saw a drop in prices of 0.4%.
In year-on-year terms, November 2022 on November 2021, the greatest increases in prices occurred within the branches of Electricity, Gas & Steam, with a rise of 44.6%; Coke Plants & Oil Refining, up 29.0%; and Timber, Paper & Graphic Arts, which registered an increase of 26.3%.
The year-on-year fluctuation in prices was positive for all the large goods groups by economic destination. Energy prices rose by 38.1%, prices of Intermediate Goods increased by 15.7% and those of Consumer Goods were up 12.7%, explained by the 13.9% rise in Consumer Non-durables and the 5.1% increase in Consumer Durables. Finally, Capital Goods registered a year-on-year rise in prices of 2.7%.
Industrial Price Index of the Basque Country. Variation rate (p). November 2022
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 134,1 | -2,7 | 17,8 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 117,0 | 2,9 | 12,8 |
| Manufacturing industry | 128,7 | -2,1 | 13,3 |
| Manufacture of food products, beverages and tobacco products | 125,1 | 0,5 | 15,0 |
| Textile industry, garments, leather & shoes | 113,2 | 4,2 | 8,0 |
| Manufacture of wood and paper products, and printing | 142,5 | 1,3 | 26,3 |
| Coke and refined petroleum | 164,1 | -9,6 | 29,0 |
| Chemical industry | 152,0 | -0,9 | 22,9 |
| Manufacture of pharmaceutical products | 125,4 | 2,7 | 1,8 |
| Rubber, plastic and other non-metallic mineral products | 110,8 | 0,5 | 9,2 |
| Metallurgy and metal products | 138,2 | -2,0 | 15,5 |
| Manufacture of computer, electronic and optical products | 114,6 | -2,3 | -0,2 |
| Manufacture of electrical equipment | 113,3 | 0,4 | 5,5 |
| fabricacion de maquinaria y equipo n.e.c | 109,7 | -0,1 | 3,6 |
| Manufacture of transport material | 106,8 | 0,0 | 0,5 |
| Furniture; other industries; repair and installation | 113,6 | 0,2 | 4,3 |
| Electricity, gas and steam | 167,1 | -5,8 | 44,6 |
| Water | 121,9 | -0,9 | 8,7 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 123,8 | 0,7 | 12,7 |
| Durable consumer goods | 112,3 | 0,3 | 5,1 |
| Nondurable consumer goods | 125,7 | 0,8 | 13,9 |
| Equipment goods | 112,7 | -0,4 | 2,7 |
| Intermediate goods | 131,4 | -1,0 | 15,7 |
| Energy | 171,0 | -8,1 | 38,1 |
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 December 22, 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 this month was calculated with 93.12% 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