Press Release 24/08/2023
INDUSTRIAL PRICE INDEX. JULY 2023
Industrial prices in the Basque Country fell by 1.7% in July 2023 in relation to the previous month
Compared to July 2022, industrial prices recorded a 5.0% decrease
Industrial prices in the Basque Country fell by 1.7% in July 2023 in respect of the previous month, according to EUSTAT data. The year-on-year rate for July, which indicates the fluctuation in industrial prices over the last twelve months, was down 5.0%.
A more detailed analysis reveals that, in July 2023, the sectors that recorded the most pronounced decreases in their prices in respect of the previous month were: Electricity, Gas & Steam, down 10.0%; Timber, Paper & Graphic Arts, with a 4.1% decrease; and Textile, Garments, Leather & Footwear, with a fall of 3.6%. Conversely, the sectors which experienced the most pronounced month-on-month price increases were: Coke Plants and Oil Refining, up 3.9%; Food, Beverages & Tobacco Industry with a 2.2% increase; and Manufacture of Computer, Electronic & Optical Products with a rise of 1.3%.
According to the classification of goods by economic destination, compared to June 2023, Energy prices fell by 4.0%. Prices of Intermediate Goods were down 1.4%, while those of Capital Goods fell by 0.7%. However, Consumer Goods experienced a 2.2% rise in prices, explained by the 2.6% increase in prices of Consumer Non-durables, given that prices of Consumer Durables were down 0.2%.
In year-on-year terms, July 2023 on July 2022, the greatest decreases in prices occurred within the branches of Coke Plants & Oil Refining, with a fall of 26.6%; Electricity, Gas & Steam, down 21.3%; and Chemical Industry, with a 4.7% decrease. In contrast, the greatest increases in prices in year-on-year terms were registered in the branches of Food, Beverages & Tobacco Industry, with a rise of 12.1%;Extraction Industries, up 10.8%; and Rubber, Plastic and other Non-Metallic Mineral Products, with a 10.1% increase.
Industrial Price Index of the Basque Country. Variation rate (p). July 2023
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 127,9 | -1,7 | -5,0 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 122,0 | -0,1 | 10,8 |
| Manufacturing industry | 128,4 | -0,2 | -1,8 |
| Manufacture of food products, beverages and tobacco products | 133,4 | 2,2 | 12,1 |
| Textile industry, garments, leather & shoes | 108,6 | -3,6 | 5,7 |
| Manufacture of wood and paper products, and printing | 143,3 | -4,1 | 5,0 |
| Coke and refined petroleum | 134,9 | 3,9 | -26,6 |
| Chemical industry | 146,7 | -1,5 | -4,7 |
| Manufacture of pharmaceutical products | 128,0 | 1,2 | 4,2 |
| Rubber, plastic and other non-metallic mineral products | 120,4 | -1,1 | 10,1 |
| Metallurgy and metal products | 138,0 | -1,4 | -2,1 |
| Manufacture of computer, electronic and optical products | 122,3 | 1,3 | 1,3 |
| Manufacture of electrical equipment | 116,8 | 0,0 | 3,5 |
| fabricacion de maquinaria y equipo n.e.c | 115,1 | -0,2 | 5,0 |
| Manufacture of transport material | 111,7 | -1,1 | 6,4 |
| Furniture; other industries; repair and installation | 120,8 | 0,6 | 6,6 |
| Electricity, gas and steam | 125,1 | -10,0 | -21,3 |
| Water | 132,6 | 0,5 | 8,5 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 130,5 | 2,2 | 10,7 |
| Durable consumer goods | 117,8 | -0,2 | 6,3 |
| Nondurable consumer goods | 132,7 | 2,6 | 11,4 |
| Equipment goods | 117,8 | -0,7 | 4,8 |
| Intermediate goods | 133,7 | -1,4 | 1,2 |
| Energy | 131,7 | -4,0 | -24,9 |
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 December 20, 2021
Source: Eustat Industrial prices index
Price fluctuation in year-on-year terms was positive for all the large goods groups by economic destination with the exception of Energy, where a decrease of 24.9% was observed. Prices of Consumer Goods rose by 10.7%, explained by the 11.4% increase in prices of Consumer Non-Durables and the 6.3% rise in those of Consumer Durables. Prices of Capital Goods recorded a 4.8% price increase and, finally, in the case of Intermediate Goods, prices rose by 1.2%.
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