Press Release 22/02/2024
INDUSTRIAL PRICE INDEX. JANUARY 2024
Industrial prices in the Basque Country rose by 1.4% in January 2024 in relation to the previous month
Compared to January 2023, industrial prices recorded a 5.2% decrease
Industrial prices in the Basque Country rose by 1.4% in January 2024 in relation to the previous month, according to EUSTAT data. The year-on-year rate for January, which indicates the fluctuation in industrial prices over the last twelve months, saw a decrease of 5.2%.
A more detailed analysis reveals that in January 2024, the sectors that recorded the most pronounced increases in their prices in respect of the previous month were: Manufacture of Pharmaceutical Products, with an increase of 7.2%; and Electricity, Gas and Steam, up 5.8%. In contrast, the sectors that saw a month-on-month decrease in their prices were: Textile, Garments, Leather & Footwear, down 1.8%; and Coke Plants and Oil Refining and Chemical Industry , both with a 0.8% decrease.
According to the classification of goods by economic destination, Energy prices increased by 2.3% compared to December 2023. Consumer Goods experienced a 0.9% increase in prices, explained by the 1.3% rise in prices of Consumer Durables and the 0.8% increase in those of Consumer Non-durables. Prices of Intermediate Goods were up 1.3%, while those of Capital Goods rose by 0.9%.
In year-on-year terms, January 2024 on January 2023, the greatest prices decreases occurred in the branches of Electricity, Gas & Steam, with a fall of 28.9%; Coke Plants and Oil Refining, down 13.9%; and Timber, Paper & Graphic Arts, with a 6.8% decrease. In contrast, the greatest price increases in year-on-year terms were registered in the branches of Manufacture of Pharmaceutical Products , with a rise of 12.2%; Extraction Industries , up 5.9%; and Manufacture of Transport Material, with an increase of 5.5%.
Industrial Price Index of the Basque Country. Variation rate (p). January 2024
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 125,3 | 1,4 | -5,2 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 131,2 | 0,0 | 5,9 |
| Manufacturing industry | 129,8 | 0,9 | -1,2 |
| Manufacture of food products, beverages and tobacco products | 132,0 | 0,5 | 1,6 |
| Textile industry, garments, leather & shoes | 114,2 | -1,8 | -2,1 |
| Manufacture of wood and paper products, and printing | 142,7 | 2,4 | -6,8 |
| Coke and refined petroleum | 133,9 | -0,8 | -13,9 |
| Chemical industry | 144,4 | -0,8 | -5,4 |
| Manufacture of pharmaceutical products | 142,3 | 7,2 | 12,2 |
| Rubber, plastic and other non-metallic mineral products | 121,8 | 0,3 | 2,1 |
| Metallurgy and metal products | 141,3 | 1,8 | 0,2 |
| Manufacture of computer, electronic and optical products | 121,1 | 1,1 | -0,9 |
| Manufacture of electrical equipment | 118,7 | 1,7 | 2,7 |
| fabricacion de maquinaria y equipo n.e.c | 116,8 | 1,1 | 2,4 |
| Manufacture of transport material | 113,8 | 0,0 | 5,5 |
| Furniture; other industries; repair and installation | 121,1 | 1,5 | 0,3 |
| Electricity, gas and steam | 98,2 | 5,8 | -28,9 |
| Water | 132,6 | 0,5 | 1,7 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 130,5 | 0,9 | 2,1 |
| Durable consumer goods | 120,5 | 1,3 | 4,5 |
| Nondurable consumer goods | 132,2 | 0,8 | 1,7 |
| Equipment goods | 119,4 | 0,9 | 2,7 |
| Intermediate goods | 135,7 | 1,3 | -0,2 |
| Energy | 112,6 | 2,3 | -24,9 |
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 Februay 22, 2024
Source: Eustat Industrial prices index
The fluctuation in year-on-year terms of prices in all the large goods groups by economic destination was negative in Energy, where there was a 24.9% decrease, and Intermediate Goods, down 0.2%. Prices of Capital Goods registered growth of 2.1% and those of Consumer Goods were up 2.7%, explained by the 4.5% increase in prices of Consumer Durables and the 1.7% rise in those of Consumer Non-Durables.
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 90.53% 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