Press Release 19/04/2023
INDUSTRIAL PRICE INDEX. MARCH 2023
Industrial prices in the Basque Country fell by 2.1% in March 2023 in relation to the previous month
Compared to March 2022, industrial prices recorded a 0.7% increase
Industrial prices in the Basque Country fell by 2.1% in March 2023 in relation to the previous month, according to data prepared by EUSTAT. The year-on-year rate for March, which indicates the fluctuation in industrial prices over the last twelve months, was still positive and stood at 0.7%.
A more detailed analysis reveals that in March 2023, the sectors which registered the greatest decreases in their prices compared to the previous month were: Electricity, Gas & Steam, down 13.9%; Manufacture of Computer, Electronic & Optical Products, with a fall of 2.1%; and Coke Plants & Oil Refining, with a decrease of 1.7%. Conversely, the sectors that recorded the greatest month-on-month increases in prices were: Manufacture of Transport Material, up 4%; Textile, Garments, Leather & Footwear Industry, with a 0.9% increase; and Rubber, Plastic and other Non-Metallic Mineral Products, with a rise of 0.6%.
According to the classification of goods by economic destination, compared to February 2023, Energy prices decreased by 8.9% and prices of Consumer Goods fell by 0.2%. In the case of the latter, the decrease can be explained by the 1.1% decrease in Consumer Non-durables and the 0.1% drop in Consumer Durables. In turn, prices of Capital Goods experienced a 1.7% increase, while Intermediate Goods rose 0.2%.
In year-on-year terms, March 2023 on March 2022, the greatest price increases occurredin the branches of Timber, Paper and Graphic Arts, with a rise of 17.3%; Extraction Industries, up 15.0%; Food, Beverage & Tobacco Industry, which increased by 14.3%; Rubber, Plastic and Other Non-Metallic Mineral Products, up 13.9%; and Water, which rose by 8.2%. Conversely, prices in year-on-year terms were negative in the branches of Electricity, Gas & Steam, down 17.6%, and Coke Plants & Oil Refining, with a decrease of 14.7%.
Industrial Price Index of the Basque Country. Variation rate (p). March 2023
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 131,4 | -2,1 | 0,7 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 127,0 | 0,2 | 15,0 |
| Manufacturing industry | 130,9 | 0,2 | 4,6 |
| Manufacture of food products, beverages and tobacco products | 133,3 | -0,1 | 14,3 |
| Textile industry, garments, leather & shoes | 104,7 | 0,9 | 1,5 |
| Manufacture of wood and paper products, and printing | 148,6 | 0,3 | 17,3 |
| Coke and refined petroleum | 144,5 | -1,7 | -14,7 |
| Chemical industry | 151,2 | -1,0 | 6,8 |
| Manufacture of pharmaceutical products | 128,5 | 0,0 | 7,1 |
| Rubber, plastic and other non-metallic mineral products | 122,2 | 0,6 | 13,9 |
| Metallurgy and metal products | 140,9 | 0,1 | 6,6 |
| Manufacture of computer, electronic and optical products | 120,9 | -2,1 | 2,3 |
| Manufacture of electrical equipment | 115,3 | -0,2 | 2,4 |
| fabricacion de maquinaria y equipo n.e.c | 114,7 | 0,0 | 5,7 |
| Manufacture of transport material | 112,7 | 4,0 | 6,9 |
| Furniture; other industries; repair and installation | 120,2 | -0,1 | 7,5 |
| Electricity, gas and steam | 134,5 | -13,9 | -17,6 |
| Water | 130,1 | -0,8 | 8,2 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 129,9 | -0,2 | 12,5 |
| Durable consumer goods | 114,7 | -1,1 | 5,3 |
| Nondurable consumer goods | 132,5 | -0,1 | 13,6 |
| Equipment goods | 118,3 | 1,7 | 6,5 |
| Intermediate goods | 136,1 | 0,2 | 8,7 |
| Energy | 142,0 | -8,9 | -16,5 |
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 April 19, 2023
Source: Eustat Industrial prices index
Price fluctuation in year-on-year terms was positive for all the large goods groups by economic destination, except Energy which fell by 16.5%. Prices of Consumer Goods rose by 12.5%, explained by the 13.6% increase in prices of Consumer Non-Durables and the 5.3% rise in Consumer Durables. Prices of Intermediate Goods increased by 8.7% and those of Capital Goods registered a year-on-year price rise of 6.5%.
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 88.98% 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