Press Release 22/12/2023

INDUSTRIAL PRICE INDEX. NOVEMBER 2023

Industrial prices in the Basque Country fell by 0.8% in November 2023 in relation to the previous month

In respect of November 2022, industrial prices recorded a 4.2% decrease

Industrial prices in the Basque Country fell by 0.8% in November 2023 compared to the previous month, according to Eustat data. The year-on-year rate for November, which indicates the fluctuation in industrial prices over the last twelve months, was down 4.2%.

A more detailed analysis reveals that in November 2023, the sectors that recorded the most pronounced decreases in their prices in respect of the previous month were: Coke Plants and Oil Refining, down 7.1%; and Electricity, Gas and Steam, with a 1.3% drop. In contrast, the sectors that recorded the most pronounced month-on-month increases in prices were: Extraction Industries, up 2.9%; and Textile, Garments, Leather & Footwear, with a rise of 0.7%.

According to the classification of goods by economic destination, compared to October 2023, Energy prices fell by 4.7%. Consumer Goods experienced a 0.5% increase in prices, explained by the 0.5% rise in prices of Consumer Non-durables and the 0.4% increase in those of Consumer Durables. Prices of Intermediate Goods were up 0.3%, while those of Capital Goods rose by 0.1%.

In year-on-year terms, November 2023 on November 2022, the greatest decreases in prices occurred within the branches of: Electricity, Gas & Steam, with a fall of 25.8%; Coke Plants and Oil Refining, down 13.2%; and Chemical Industry, with a 6.6% 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 8.9%; and Water, with an 8.2% increase.

Industrial Price Index of the Basque Country. Variation Rates (p). November 2023

Source: Eustat. Industrial Price Index

 

INDEX

% VARIATION

 

 

m / m-1

m / m-12

GENERAL INDEX

128.7

-0.8

-4.2

 

 

SECTORAL DIVISIONS

 

Extraction Industries

130.6

2.9

11.6

Manufacturing Industry

129.4

-0.8

0.4

Food, Beverages & Tobacco Industry

132.4

0.3

5.8

Textile, Garments, Leather & Footwear

116.8

0.7

3.1

Timber, Paper & Graphic Arts

140.3

0.3

-1.7

Coke Plants and Oil Refining

142.4

-7.1

-13.2

Chemical Industry

143.9

-0.1

-6.6

Manufacture of Pharmaceutical Products

129.5

-0.7

3.3

Rubber, Plastic and Other Non-Metallic Mineral Products

120.5

-0.2

8.9

Metallurgy & Metal Products

138.7

0.5

0.3

Manufacture of Computer, Electronic & Optical Products

120.0

-0.3

4.7

Manufacture of Material and Electrical Equipment

116.7

0.0

3.0

Manufacture of Machinery and Equipment n.e.c.

115.1

0.0

4.9

Manufacture of Transport Material

113.6

0.3

6.0

Furniture, Other Manufacturing Industries; Repairs and Installation

118.4

0.5

4.4

Electricity, Gas & Steam

124.1

-1.3

-25.8

Water

131.9

-0.8

8.2

 

 

BY MAJOR INDUSTRIAL SECTORS

 

Consumer Goods

130.3

0.5

5.2

Consumer Durables

118.9

0.4

5.8

Consumer Non-Durables

132.2

0.5

5.1

Capital Goods

118.3

0.1

5.1

Intermediate Goods

133.5

0.3

1.3

Energy

134.9

-4.7

-21.1

Base 2015=100

(p) Provisional data

m / m-1: Variation rate of the last month observed (m) with respect to the previous month (m -1)

m / m-12: Year-on-year variation rate in the last month observed (m) in respect of the same month of the previous year (m-12)

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 21.1% was observed. Prices of Consumer Goods rose by 5.2%, explained by the 5.1% increase in prices of Consumer Non-Durables and the 5.8% 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 1.3%.

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 93.10% 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