Press Release 24/01/2024
INDUSTRIAL PRICE INDEX. DECEMBER 2023
Industrial prices in the Basque Country fell by 1.3% in December 2023 in relation to the previous month
Industrial prices recorded a 5.9% decrease compared to December 2022
Industrial prices in the Basque Country decreased by 1.3% in December 2023 compared to the previous month, according to data provided by Eustat. The year-on-year rate for December, which indicates the fluctuation in industrial prices over the last twelve months, was down 5.9%.
A more detailed analysis reveals that in December 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 5.2%; and Electricity, Gas and Steam, with a 3.7% drop. By contrast, the sectors which saw the most pronounced month-on-month increases in their prices were Furniture; Other Manufacturing Industries; Repair and Installation, with a 0.6% rise and Extraction Industries, up 0.4%.
According to the classification of goods by economic destination, compared to November 2023, Energy prices fell by 5.0%. Consumer Goods experienced a 0.8% decrease in prices, explained by the 0.9% drop in prices of Consumer Non-durables, given that prices of Consumer Durables remained constant. In turn, prices of Intermediate Goods were down 0.4%, and there was a 0.1% decrease in those of Capital Goods.
In year-on-year terms, December 2023 on December 2022, the greatest decreases in prices occurred within the branches of Electricity, Gas & Steam, with a fall of 41.9%; Coke Plants and Oil Refining, down 8.8%; and Chemical Industry, with a 5.7% 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 11.3%; Rubber, Plastic and Other Non-Metallic Mineral Products, up 9.1%; and Water, with a 7.6% increase.
Industrial Price Index of the Basque Country. Variation rate (p). December 2023
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 122,6 | -1,3 | -5,9 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 131,1 | 0,4 | 11,3 |
| Manufacturing industry | 128,5 | -1,0 | 1,1 |
| Manufacture of food products, beverages and tobacco products | 131,3 | -0,8 | 3,5 |
| Textile industry, garments, leather & shoes | 116,3 | -0,4 | 4,8 |
| Manufacture of wood and paper products, and printing | 139,6 | -0,5 | -2,3 |
| Coke and refined petroleum | 135,0 | -5,2 | -8,8 |
| Chemical industry | 145,2 | 0,3 | -5,7 |
| Manufacture of pharmaceutical products | 130,0 | 0,3 | 6,0 |
| Rubber, plastic and other non-metallic mineral products | 120,3 | -0,2 | 9,1 |
| Metallurgy and metal products | 138,7 | -0,7 | 0,2 |
| Manufacture of computer, electronic and optical products | 119,9 | -0,3 | 4,8 |
| Manufacture of electrical equipment | 116,7 | 0,0 | 3,0 |
| fabricacion de maquinaria y equipo n.e.c | 115,6 | 0,0 | 5,4 |
| Manufacture of transport material | 113,8 | 0,1 | 6,0 |
| Furniture; other industries; repair and installation | 119,1 | 0,6 | 4,0 |
| Electricity, gas and steam | 87,0 | -3,7 | -41,9 |
| Water | 131,9 | 0,0 | 7,6 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 129,3 | -0,8 | 3,4 |
| Durable consumer goods | 118,9 | 0,0 | 5,3 |
| Nondurable consumer goods | 131,0 | -0,9 | 3,1 |
| Equipment goods | 118,4 | -0,1 | 4,9 |
| Intermediate goods | 133,6 | -0,4 | 1,4 |
| Energy | 109,5 | -5,0 | -28,2 |
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 January 24, 2024
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 28.2% was observed. Prices of Consumer Goods rose by 3.4% due to the 5.3% increase in prices of Consumer Durables and the 3.1% rise in those of Consumer Non-Durables. Prices of Capital Goods recorded a 4.9% price increase and, finally, in the case of Intermediate Goods, prices rose by 1.4%.
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 95.07% 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