Press Release 22/09/2023
INDUSTRIAL PRICE INDEX. AUGUST 2023
Industrial prices in the Basque Country rose by 1.5% in August 2023 compared to the previous month
In respect of August 2022, industrial prices recorded a 2.6% decrease
Industrial prices in the Basque Country rose by 1.5% in August 2023 compared to the previous month, according to Eustat data. The year-on-year rate for August, which indicates the fluctuation in industrial prices over the last twelve months, was down 2.6%.
A more detailed analysis reveals that in August 2023 the sectors that registered the most pronounced decreases in prices in respect of the previous month were: Food, Beverages & Tobacco Industry, with a 1.9% fall in prices, Chemical Industry, down 0.5%; and Water, with a decrease of 0.3%. Conversely, the sectors that experienced the most pronounced month-on-month price increases were: Coke Plants and Oil Refining, with a rise of 11.2%; Manufacture of Pharmaceutical Products, up 1.4%; and Timber, Paper & Graphic Arts, with an increase of 1.2%.
According to the classification of goods by economic destination, compared to July 2023, Energy prices increased by 6.3%. Prices of both Intermediate Goods and Capital Goods rose by 0.6%. However, Consumer Goods experienced a 1.6% decrease in prices, explained by the 1.8% drop in prices of Consumer Non-durables, given that prices of Consumer Durables remained stable.
In year-on-year terms, August 2023 on August 2022, the greatest decreases in prices occurred within the branches of Electricity, Gas & Steam, with a fall of 20.7%; Coke Plants and Oil Refining, down 13.8%; and Chemical Industry, with a 6.3% decrease. In contrast, the greatest increases in prices in year-on-year terms were registered in the branches of Extraction Industries, with a rise of 10.4%; Rubber, Plastic and other Non-Metallic Mineral Products, up 10.0%; and Food, Beverages & Tobacco Industry, with a 9.2% increase.
Industrial Price Index of the Basque Country. Variation rate (p). August 2023
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 129,9 | 1,5 | -2,6 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 123,4 | 1,0 | 10,4 |
| Manufacturing industry | 130,6 | 1,6 | 1,0 |
| Manufacture of food products, beverages and tobacco products | 131,4 | -1,9 | 9,2 |
| Textile industry, garments, leather & shoes | 108,5 | -0,1 | 7,0 |
| Manufacture of wood and paper products, and printing | 144,9 | 1,2 | 6,2 |
| Coke and refined petroleum | 150,0 | 11,2 | -13,8 |
| Chemical industry | 146,1 | -0,5 | -6,3 |
| Manufacture of pharmaceutical products | 131,7 | 1,4 | 6,5 |
| Rubber, plastic and other non-metallic mineral products | 120,4 | 0,0 | 10,0 |
| Metallurgy and metal products | 138,9 | 0,7 | -0,3 |
| Manufacture of computer, electronic and optical products | 121,5 | 0,1 | 1,6 |
| Manufacture of electrical equipment | 116,7 | -0,1 | 3,4 |
| fabricacion de maquinaria y equipo n.e.c | 115,0 | -0,1 | 5,0 |
| Manufacture of transport material | 113,4 | 1,2 | 7,4 |
| Furniture; other industries; repair and installation | 121,3 | 0,7 | 6,9 |
| Electricity, gas and steam | 125,9 | 0,7 | -20,7 |
| Water | 132,3 | -0,3 | 8,5 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 129,0 | -1,6 | 8,1 |
| Durable consumer goods | 117,8 | 0,0 | 6,3 |
| Nondurable consumer goods | 130,8 | -1,8 | 8,4 |
| Equipment goods | 118,5 | 0,6 | 5,1 |
| Intermediate goods | 134,4 | 0,6 | 2,4 |
| Energy | 140,0 | 6,3 | -17,7 |
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 September 22, 2023
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 17.7% was observed. Prices of Consumer Goods rose by 8.1%, explained by the 8.4% increase in prices of Consumer Non-Durables and the 6.3% rise in those of Consumer Durables. Prices of Capital Goods recorded a 5.1% price increase and, finally, in the case of Intermediate Goods, prices rose by 2.4%.
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