Press Release 23/02/2023
INDUSTRIAL PRICE INDEX. JANUARY 2023
Industrial prices in the Basque Country rose by 0.5% in January 2023 in relation to the previous month
Compared to January 2022, the increase in industrial prices reached 9.8%
Industrial prices in the Basque Country increased by 0.5% in January 2023 compared to the previous month, according to Eustat data. The year-on-year rate for January, which indicates the fluctuation in industrial prices over the last twelve months, stood at 9.8%.
A more detailed analysis reveals that, in January 2023, the most inflationary branches were: Manufacture of Computer, Electronic & Optical Products , with a rise of 6.8%; Water, up 6,4%; and Extraction Industries and Timber, Paper and Graphic Arts, both with a 5.1% increase in prices.
In contrast, the sectors that recorded month-on-month decreases in prices were: Electricity, Gas & Steam, with a drop of 7.7%; and Chemical Industry, down 0.9%.
With regards to the classification of goods by economic destination, price fluctuation in respect of December 2022 in Capital Goods was 1.9%. Intermediate Goods and Consumer Goods saw a rise of 1.5%; in the case of the latter, explained by the 1.9% increase in Consumer Non-Durables, given that prices of Consumer Durables fell by 1.4%. Finally, Energy prices decreased by 1.8% in respect of the previous month.
In year-on-year terms, January 2023 on January 2022, the greatest price increases occurred in the branches of Timber, Paper and Graphic Arts with an increase of 23.5%; Coke Plants and Oil-Refining, which registered an increase of 15.9%; Chemical Industry with a rise of 15.6%; and Extraction Industries, up 13.0%. The only branch that registered a year-on-year decrease was Manufacture of Transport Material, down 0.3%
Industrial Price Index of the Basque Country. Variation rate (p). January 2023
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 131,0 | 0,5 | 9,8 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 123,9 | 5,1 | 13,0 |
| Manufacturing industry | 129,8 | 2,1 | 10,4 |
| Manufacture of food products, beverages and tobacco products | 129,5 | 2,0 | 14,2 |
| Textile industry, garments, leather & shoes | 116,6 | 5,0 | 12,0 |
| Manufacture of wood and paper products, and printing | 150,1 | 5,1 | 23,5 |
| Coke and refined petroleum | 155,4 | 5,0 | 15,9 |
| Chemical industry | 152,6 | -0,9 | 15,6 |
| Manufacture of pharmaceutical products | 127,3 | 3,8 | 12,0 |
| Rubber, plastic and other non-metallic mineral products | 112,2 | 1,8 | 8,7 |
| Metallurgy and metal products | 139,3 | 0,8 | 12,0 |
| Manufacture of computer, electronic and optical products | 122,3 | 6,8 | 4,0 |
| Manufacture of electrical equipment | 115,5 | 2,0 | 3,8 |
| fabricacion de maquinaria y equipo n.e.c | 114,0 | 4,0 | 5,8 |
| Manufacture of transport material | 107,6 | 0,2 | -0,3 |
| Furniture; other industries; repair and installation | 116,2 | 1,5 | 4,1 |
| Electricity, gas and steam | 138,5 | -7,7 | 6,8 |
| Water | 130,5 | 6,4 | 10,4 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 127,0 | 1,5 | 13,0 |
| Durable consumer goods | 111,4 | -1,4 | 3,1 |
| Nondurable consumer goods | 129,6 | 1,9 | 14,5 |
| Equipment goods | 115,0 | 1,9 | 2,5 |
| Intermediate goods | 133,6 | 1,5 | 12,6 |
| Energy | 150,0 | -1,8 | 11,8 |
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 Februay 23, 2023
Source: Eustat Industrial prices index
The year-on-year fluctuation in prices in year-on-year terms was positive for all the large goods groups by economic destination. Prices for Consumer Goods rose by 13.0%, explained by the 14.5% increase in prices of Consumer Non-Durables and the 3.1% rise in those of Consumer Durables. Prices of Intermediate Goods were up 12.6% and Energy prices rose by 11.8%. Finally, Capital Goods registered a year-on-year rise in prices of 2.5%.
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 84.06% 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