Press Release 23/11/2023
INDUSTRIAL PRICE INDEX. OCTOBER 2023
Industrial prices in the Basque Country fell by 1.4% in October 2023 in relation to the previous month
In respect of October 2022, industrial prices recorded a 6.0% decrease
Industrial prices in the Basque Country decreased by 1.4% in October 2023 compared to the previous month, according to Eustat data. The year-on-year rate for October, which indicates the fluctuation in industrial prices over the last twelve months, was down 6.0%.
A more detailed analysis reveals that in October 2023, the sectors that recorded the most pronounced decreases in their prices in respect of the previous month were: Timber, Paper & Graphic Arts, down 5.3%; and Coke Plants and Oil Refining and Electricity, Gas and Steam, both with a drop of 3.4%. In contrast, the sectors that recorded the most pronounced month-on-month increases in prices were: Textile, Garments, Leather & Footwear, with a rise of 3.0%; and Extraction Industries, up 1.1%.
According to the classification of goods by economic destination, compared to September 2023, Energy prices fell by 3.6%. Prices of Capital Goods were down 0.8%, while those of Intermediate Goods fell by 0.9%. However, Consumer Goods experienced a 0.1% increase in prices, explained by the 0.2% rise in prices of Consumer Non-durables and the 0.1% increase in those of Consumer Durables.
In year-on-year terms, October 2023 on October 2022, the greatest decreases in prices occurred within the branches of Electricity, Gas & Steam, with a fall of 29.2%; Coke Plants and Oil Refining, down 15.5%; and Chemical Industry, with a 7.4% 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 11.6%; Rubber, Plastic and Other Non-Metallic Mineral Products, up 9.6%; and Food, Beverages & Tobacco Industry, with a 6.9% increase.
Industrial Price Index of the Basque Country. Variation rate (p). October 2023
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 129,7 | -1,4 | -6,0 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 126,9 | 1,1 | 11,6 |
| Manufacturing industry | 130,4 | -1,1 | -0,9 |
| Manufacture of food products, beverages and tobacco products | 132,0 | 0,1 | 6,0 |
| Textile industry, garments, leather & shoes | 116,0 | 3,0 | 6,9 |
| Manufacture of wood and paper products, and printing | 139,9 | -5,3 | -0,6 |
| Coke and refined petroleum | 153,4 | -3,4 | -15,5 |
| Chemical industry | 144,1 | -0,7 | -7,4 |
| Manufacture of pharmaceutical products | 130,4 | -3,1 | 6,9 |
| Rubber, plastic and other non-metallic mineral products | 120,7 | -0,3 | 9,6 |
| Metallurgy and metal products | 138,1 | -0,5 | -2,2 |
| Manufacture of computer, electronic and optical products | 120,4 | -1,2 | 2,7 |
| Manufacture of electrical equipment | 116,7 | 0,0 | 3,4 |
| fabricacion de maquinaria y equipo n.e.c | 115,2 | -0,3 | 4,9 |
| Manufacture of transport material | 113,2 | 0,0 | 5,9 |
| Furniture; other industries; repair and installation | 117,9 | -2,5 | 4,0 |
| Electricity, gas and steam | 125,7 | -3,4 | -29,2 |
| Water | 133,0 | 0,5 | 8,2 |
| | | | |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 129,7 | 0,1 | 5,5 |
| Durable consumer goods | 118,4 | 0,1 | 5,7 |
| Nondurable consumer goods | 131,6 | 0,2 | 5,4 |
| Equipment goods | 118,2 | -0,8 | 4,4 |
| Intermediate goods | 133,2 | -0,9 | 0,2 |
| Energy | 141,6 | -3,6 | -23,9 |
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 November 23, 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 23.9% was observed. Prices of Consumer Goods rose by 5.5%, explained by the 5.4% increase in prices of Consumer Non-Durables and the 5.7% rise in those of Consumer Durables. Prices of Capital Goods recorded a 4.4% price increase and, finally, in the case of Intermediate Goods, prices rose by 0.2%.
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 95.46% 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