Press Release 19/07/2023
INDUSTRIAL PRICE INDEX. JUNE 2023
Industrial prices in the Basque Country increased by 1.3% in June 2023 in relation to the previous month
Compared to June 2022, industrial prices recorded a 5.9% decrease
Industrial prices of the Basque Country rose by 1.3% in June 2023 in relation to the previous month, according to EUSTAT data. However, the year-on-year rate for June, which indicates the fluctuation in industrial prices over the last twelve months, was down 5.9%.
A more detailed analysis reveals that in June 2023, the sectors which recorded the greatest decreases in their prices compared to the previous month were: Manufacture of Pharmaceutical Products, with a 2.1% decrease in prices; Textile, Garments, Leather & Footwear down 1.5%; Extraction Industries with a fall of 1.2% and Timber, Paper and Graphic Arts with a 0.9% drop. Conversely, the sectors which experienced the most pronounced month-on-month increases were Electricity, Gas & Steam with a 7.9% rise in prices; Metallurgy & Metal Products up 1.0% and Manufacture of Computer, Electronic & Optical Products with a 0.8% increase.
Year-on-year variation rate of the industrial price index in the Basque Country. (%)
Jun, 2022 Aug, 2022 Oct, 2022 Dec, 2022 Feb, 2023 Apr, 2023 Jun, 2023 |
Jan, 2006 Jan, 2008 Jan, 2010 Jan, 2012 Jan, 2014 Jan, 2016 Jan, 2018 Jan, 2020 Jan, 2022 |
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According to the classification of goods by economic destination, compared to May 2023, Energy prices increased by 4.7%. Prices of Intermediate Goods were up 0.4%, while those of Capital Goods rose by 0.2%. However, Consumer Goods experienced a 0.9% decrease, explained by the 1.0% drop in prices of Consumer Non-durables and the 0.1% decrease in those of Consumer Durables.
In year-on-year terms, June 2023 on June 2022, the greatest price increases occurred in the branches of Rubber, Plastic and other Non-Metallic Mineral Products, with a 12.4% increase; Textile, Garments, Leather & Footwear, with a rise of 10.1%; Timber, Paper & Graphic Arts, up 9.9%; Water with a 8.9% increase and Food, Beverages and Tobacco Industry, with a rise of 8.4%. In contrast, the greatest decreases in prices in year-on-year terms were recorded in the branches of Coke Plants and Oil Refining with a fall of 35.7%; Electricity, Gas & Steam, down 16.1%; and Metallurgy & Metal Products, with a 3.1% decrease.
Industrial Price Index of the Basque Country. Variation rate (p). June 2023
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 130,3 | 1,3 | -5,9 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 122,1 | -1,2 | 8,0 |
| Manufacturing industry | 128,7 | 0,2 | -3,8 |
| Manufacture of food products, beverages and tobacco products | 130,5 | -0,7 | 8,4 |
| Textile industry, garments, leather & shoes | 112,6 | -1,5 | 10,1 |
| Manufacture of wood and paper products, and printing | 149,6 | -0,9 | 9,9 |
| Coke and refined petroleum | 129,9 | 0,3 | -35,7 |
| Chemical industry | 149,6 | -0,1 | -0,3 |
| Manufacture of pharmaceutical products | 126,5 | -2,1 | 5,2 |
| Rubber, plastic and other non-metallic mineral products | 121,7 | 0,2 | 12,4 |
| Metallurgy and metal products | 140,0 | 1,0 | -3,1 |
| Manufacture of computer, electronic and optical products | 120,7 | 0,8 | -0,1 |
| Manufacture of electrical equipment | 116,7 | 0,0 | 3,6 |
| fabricacion de maquinaria y equipo n.e.c | 115,3 | 0,3 | 6,0 |
| Manufacture of transport material | 112,9 | 0,0 | 6,9 |
| Furniture; other industries; repair and installation | 120,0 | -0,7 | 5,3 |
| Electricity, gas and steam | 140,1 | 7,9 | -16,1 |
| Water | 131,9 | -0,3 | 8,9 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 127,7 | -0,9 | 6,9 |
| Durable consumer goods | 118,0 | -0,1 | 6,3 |
| Nondurable consumer goods | 129,3 | -1,0 | 7,0 |
| Equipment goods | 118,7 | 0,2 | 5,4 |
| Intermediate goods | 135,6 | 0,4 | 1,5 |
| Energy | 137,7 | 4,7 | -27,3 |
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 July 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 27.3%. Prices of Consumer Goods rose by 6.9%, explained by the 7.0% increase in prices of Consumer Non-Durables and the 6.3% rise in Consumer Durables. Prices of Capital Goods recorded a 5.4% price increase, while those of Intermediate Goods rose by 1.5%.
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 93.70% 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