Press Release 24/01/2023
INDUSTRIAL PRICE INDEX. DECEMBER 2022
Industrial prices in the Basque Country fell by 2.7% in December 2022 in relation to the previous month
Compared to December 2021, industrial prices were up 13.4%
Industrial prices in the Basque Country decreased by 2.7% in December 2022 compared to the previous month, according to data provided by Eustat. The year-on-year rate for December, which indicates the fluctuation in industrial prices over the last twelve months, stood at 13.4%.
A more detailed analysis reveals that in December 2022, the sectors with the most pronounced decreases were: Electricity, Gas & Steam, with a decrease of 10.2%, Coke Plants & Oil Refining, down 9.8%; and Food, Beverages & Tobacco, with a 2.2% drop.
In contrast, the sectors which recorded the highest month-on-month increases in their prices were the Food, Beverages & Tobacco Industry, with an increase of 1.4%, Extraction Industries, up 0.7% and Chemical Industry, Metallurgy & Metal Products and Water, with an increase of 0.6% in all three sectors.
With regards to the classification of goods by economic destination, price fluctuations in respect of November 2022 in Consumer Goods were 1.0%, explained by the 1.1% rise in Consumer Non-durables and the 0.4% increase in Consumer Durables. In contrast, Energy prices decreased by 10.7%. An increase of 0.4% was observed in Intermediate Goods and Capital Goods.
In year-on-year terms, December 2022 on December 2021, the greatest price increases occurred in the branches of Timber, Paper and Graphic Arts with an increase of 24.0%, Electricity, Gas & Steam, up 23.7%, Chemical Industry with a rise of 22.2% and Coke Plants and Oil Refining which recorded an increase of 18.4%.
The year-on-year fluctuation in prices was positive for all the large goods groups by economic destination. Energy prices rose by 21.1%, prices of Intermediate Goods increased by 15.2% and those of Consumer Goods were up 13.7%, explained by the 14.9% rise in Consumer Non-durables and the 5.8% increase in Consumer Durables. Finally, Capital Goods registered a year-on-year rise in prices of 2.5%.
Industrial Price Index of the Basque Country. Variation rate (p). December 2022
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 130,4 | -2,7 | 13,4 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 117,8 | 0,7 | 6,3 |
| Manufacturing industry | 127,2 | -1,1 | 11,7 |
| Manufacture of food products, beverages and tobacco products | 126,9 | 1,4 | 15,9 |
| Textile industry, garments, leather & shoes | 111,0 | -1,8 | 6,9 |
| Manufacture of wood and paper products, and printing | 143,0 | 0,2 | 24,0 |
| Coke and refined petroleum | 148,0 | -9,8 | 18,4 |
| Chemical industry | 152,3 | 0,6 | 22,2 |
| Manufacture of pharmaceutical products | 122,6 | -2,2 | 8,9 |
| Rubber, plastic and other non-metallic mineral products | 110,3 | -0,4 | 8,3 |
| Metallurgy and metal products | 139,0 | 0,6 | 14,9 |
| Manufacture of computer, electronic and optical products | 114,5 | -0,1 | -1,4 |
| Manufacture of electrical equipment | 113,3 | 0,0 | 5,5 |
| fabricacion de maquinaria y equipo n.e.c | 109,7 | -0,1 | 3,5 |
| Manufacture of transport material | 107,3 | 0,4 | 0,9 |
| Furniture; other industries; repair and installation | 113,4 | 0,0 | 3,5 |
| Electricity, gas and steam | 150,1 | -10,2 | 23,7 |
| Water | 122,6 | 0,6 | 10,4 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 125,1 | 1,0 | 13,7 |
| Durable consumer goods | 112,9 | 0,4 | 5,8 |
| Nondurable consumer goods | 127,1 | 1,1 | 14,9 |
| Equipment goods | 112,7 | 0,4 | 2,5 |
| Intermediate goods | 132,0 | 0,4 | 15,2 |
| Energy | 152,8 | -10,7 | 21,1 |
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 January 24, 2023
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 91.75% 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