Press Release 24/05/2023
INDUSTRIAL PRICE INDEX. APRIL 2023
Industrial prices in the Basque Country fell by 0.6% in April 2023 in relation to the previous month
Compared to April 2022, industrial prices recorded a 1.9% decrease
Industrial prices in the Basque Country fell by 0.6% in April 2023 in relation to the previous month, according to Eustat data. The year-on-year rate for April, which indicates the fluctuation in industrial prices over the last twelve months, was negative for the first time this year and stood at -1.9%.
A more detailed analysis reveals that in April 2023, the sectors which registered the greatest decreases in their prices compared to the previous month were: Manufacture of Electrical Material & Equipment, down 3.6%, Coke Plants & Oil Refining, with a 3.5% reduction in its prices, and Extraction Industries, with a 1.4% decrease. Conversely, the sectors which recorded the greatest month-on-month increases in prices were the Textile, Leather and Footwear Industry (6.8%), Water (1.7%), Manufacture of Transport Material (0.5%) and Chemical Industry (0.4%).
According to the classification of goods by economic destination, compared to March 2023, Energy prices decreased by 1.7% and Consumer Goods prices fell by 0.7%. In the case of the latter, the decrease can be explained by the 7.3% downturn in the price of Consumer Non-durables and the 0.3% increase in the price of Consumer Durables. Prices of Intermediate Goods dropped by 0.4%, while in Capital Goods prices remained constant.
In year-on-year terms, April 2023 on April 2022, the greatest price increases occurred in the branches of Food, Beverages & Tobacco Industry, up 14.0%; Rubber, Plastic and other Non-Metallic Mineral Products, with a 13.9% increase; Timber paper and graphic arts, with a rise of 13.6%; Extraction Industries, up 12.6%; and Water with an 8.7% increase. Conversely, prices in year-on-year terms decreased in the branches of Electricity, Gas & Steam, down 20.0%; Coke Plants & Oil Refining, with a 17.3% drop; and in Manufacture of Electrical Material & Equipment; with a 1.4% decrease.
Industrial Price Index of the Basque Country. Variation rate (p). April 2023
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 130,7 | -0,6 | -1,9 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 125,3 | -1,4 | 12,6 |
| Manufacturing industry | 130,0 | -0,8 | 1,9 |
| Manufacture of food products, beverages and tobacco products | 133,3 | 0,0 | 14,0 |
| Textile industry, garments, leather & shoes | 111,8 | 6,8 | 7,8 |
| Manufacture of wood and paper products, and printing | 149,4 | -0,9 | 13,6 |
| Coke and refined petroleum | 139,5 | -3,5 | -17,3 |
| Chemical industry | 152,1 | 0,4 | 3,1 |
| Manufacture of pharmaceutical products | 127,3 | -1,0 | 2,3 |
| Rubber, plastic and other non-metallic mineral products | 122,4 | 0,1 | 13,9 |
| Metallurgy and metal products | 139,9 | -0,7 | 0,6 |
| Manufacture of computer, electronic and optical products | 121,9 | -0,3 | 1,3 |
| Manufacture of electrical equipment | 111,1 | -3,6 | -1,4 |
| fabricacion de maquinaria y equipo n.e.c | 114,8 | -0,1 | 5,5 |
| Manufacture of transport material | 113,2 | 0,5 | 7,6 |
| Furniture; other industries; repair and installation | 120,0 | 0,2 | 6,0 |
| Electricity, gas and steam | 134,8 | 0,2 | -20,0 |
| Water | 132,3 | 1,7 | 8,7 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 129,0 | -0,7 | 11,2 |
| Durable consumer goods | 106,4 | -7,3 | -3,4 |
| Nondurable consumer goods | 132,8 | 0,3 | 13,5 |
| Equipment goods | 118,4 | 0,0 | 4,5 |
| Intermediate goods | 135,8 | -0,4 | 5,3 |
| Energy | 139,7 | -1,7 | -19,2 |
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 May 24, 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 19.2%. Prices of Consumer Goods rose by 11.2%, explained by the 13.5% increase in prices of Consumer Non-Durables and the 3.4% decrease in Consumer Durables. Prices of Intermediate Goods recorded a 5.3% price increase, while those of Capital Goods rose by 4.5%.
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 95.47% 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