Press Release 24/10/2023
INDUSTRIAL PRICE INDEX. SEPTEMBER 2023
Industrial prices in the Basque Country rose by 1.1% in September 2023 in relation to the previous month
In respect of September 2022, industrial prices recorded a 3.0% decrease
Industrial prices of the Basque Country rose by 1.1% in September 2023 compared to the previous month, according to Eustat data. The year-on-year rate for September, which indicates the fluctuation in industrial prices over the last twelve months, was down 3.0%.
A more detailed analysis reveals that in September 2023, the sectors which recorded the most pronounced increases in their prices, in respect of the previous month, were Coke Plants and Oil Refining, with a 5.8% increase; Textile, Garments, Leather & Footwear, with a 3.8% rise and Electricity, Gas & Steam, up 3.3%. By contrast, the sectors which saw the most pronounced month-on-month decreases in their prices were Furniture; Other Manufacturing Industries; Repair and Installation, with a 1.0% decrease and Manufacture of Machinery and Equipment, down 0.7%.
According to the classification of goods by economic destination, compared to August 2023, Energy prices increased by 5.0%. Meanwhile, prices of Capital Goods remained stable, whereas those of Intermediate Goods fell by 0.1%. Consumer Goods also experienced a 0.1% decrease in prices, explained by the 0.2% drop in prices of Consumer Non-durables and the 0.4% decrease in those of Consumer Durables.
In year-on-year terms, September 2023 on September 2022, the greatest decreases in prices occurred within the branches of Electricity, Gas & Steam, with a fall of 25.2%; Chemical Industry, down 7.0%; and Coke Plants and Oil Refining, with a 5.6% decrease. In contrast, the greatest increases in prices in year-on-year terms were registered in the branches of Textile, Garments, Leather & Footwear, with a rise of 12.1%; Manufacture of Pharmaceutical Products, up 11.9%; Extraction Industries, with an 11.5% increase and Rubber, Plastic and other Non-Metallic Mineral Products, up 10.5%.
Industrial Price Index of the Basque Country. Variation rate (p). September 2023
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 131,4 | 1,1 | -3,0 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 125,5 | 1,7 | 11,5 |
| Manufacturing industry | 131,6 | 0,7 | 1,9 |
| Manufacture of food products, beverages and tobacco products | 131,1 | -0,3 | 7,8 |
| Textile industry, garments, leather & shoes | 112,6 | 3,8 | 12,1 |
| Manufacture of wood and paper products, and printing | 147,7 | 1,8 | 5,1 |
| Coke and refined petroleum | 158,8 | 5,8 | -5,6 |
| Chemical industry | 145,3 | 0,0 | -7,0 |
| Manufacture of pharmaceutical products | 134,5 | 2,1 | 11,9 |
| Rubber, plastic and other non-metallic mineral products | 121,1 | 0,5 | 10,5 |
| Metallurgy and metal products | 138,6 | -0,3 | -0,8 |
| Manufacture of computer, electronic and optical products | 122,1 | 0,4 | 1,7 |
| Manufacture of electrical equipment | 116,7 | 0,0 | 3,4 |
| fabricacion de maquinaria y equipo n.e.c | 114,5 | -0,7 | 4,4 |
| Manufacture of transport material | 113,3 | -0,1 | 6,7 |
| Furniture; other industries; repair and installation | 120,9 | -1,0 | 6,9 |
| Electricity, gas and steam | 130,0 | 3,3 | -25,2 |
| Water | 132,3 | 0,3 | 8,9 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 129,0 | -0,1 | 7,1 |
| Durable consumer goods | 118,2 | 0,4 | 6,0 |
| Nondurable consumer goods | 130,7 | -0,2 | 7,2 |
| Equipment goods | 118,8 | 0,0 | 5,2 |
| Intermediate goods | 134,2 | -0,1 | 1,7 |
| Energy | 146,9 | 5,0 | -16,4 |
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 October 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, with the exception of Energy, where a decrease of 16.4% was observed. Prices of Consumer Goods rose by 7.1%, explained by the 7.2% increase in prices of Consumer Non-Durables and the 6.0% rise in those of Consumer Durables. Prices of Capital Goods recorded a 5.2% price increase and, finally, in the case of Intermediate Goods, prices rose by 1.7%.
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 93.11% 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