Press Release 24/06/2024
INDUSTRIAL PRICE INDEX. MAY 2024
Industrial prices in the Basque Country remained constant in May 2024 compared to the previous month
In relation to May 2023, industrial prices recorded a 4.6% decrease
Industrial prices in the Basque Country remained constant in May 2024 in respect of the previous month, according to Eustat data. The year-on-year rate for May, which indicates the fluctuation in industrial prices over the last twelve months, recorded a fall of 4.6%.
A more detailed analysis reveals that in May 2024, the sectors that recorded the most pronounced decreases in their prices compared to the previous month were: Coke Plants and Oil Refining, down 5.8%; and Extraction Industries and Manufacture of Electrical Material & Equipment, both with a 0.2% decrease. Conversely, the sectors that experienced a month-on-month increase in their prices were Electricity, Gas & Steam, up 3.0%, and Metallurgy & Metal Products, with a 1.0% rise.
According to the classification of goods by economic destination, compared to April 2024, Energy prices were down 2.7%, those of Consumer Goods remained constant, explained by the 0.5% increase in prices in Consumer Durables, while those of Consumer Non-durables decreased by 0.1%. Prices of Intermediate Goods were up 0.6%, and there was a 0.5% decrease in those of Capital Goods.
In year-on-year terms, May 2024 on May 2023, the greatest decreases in prices occurred within the branches of Electricity, Gas & Steam, with a fall of 37.6%, and Timber, Paper & Graphic Arts, down 6.7%. In contrast, the prices that experienced the greatest increases in year-on-year terms were found in the branches of Extraction Industries, with a rise of 12.3%, and Coke Plants & Oil Refining, up 3.3%.
Industrial Price Index of the Basque Country. Variation rate (p). May 2024
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 122,8 | 0,0 | -4,6 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 138,8 | 0,1 | 12,3 |
| Manufacturing industry | 129,7 | -0,4 | 0,9 |
| Manufacture of food products, beverages and tobacco products | 132,7 | -0,1 | 0,9 |
| Textile industry, garments, leather & shoes | 113,6 | 0,1 | -0,7 |
| Manufacture of wood and paper products, and printing | 140,8 | 0,0 | -6,7 |
| Coke and refined petroleum | 133,9 | -5,8 | 3,3 |
| Chemical industry | 146,3 | -0,2 | -2,3 |
| Manufacture of pharmaceutical products | 131,7 | -0,1 | 1,9 |
| Rubber, plastic and other non-metallic mineral products | 120,7 | 0,0 | -1,7 |
| Metallurgy and metal products | 140,2 | 1,0 | 1,1 |
| Manufacture of computer, electronic and optical products | 121,0 | 0,3 | 1,1 |
| Manufacture of electrical equipment | 119,8 | -0,2 | 2,6 |
| fabricacion de maquinaria y equipo n.e.c | 116,7 | 0,0 | 1,2 |
| Manufacture of transport material | 116,0 | 0,8 | 2,7 |
| Furniture; other industries; repair and installation | 122,2 | 0,1 | 1,0 |
| Electricity, gas and steam | 81,0 | 3,0 | -37,6 |
| Water | 135,9 | -0,3 | 2,7 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 130,5 | 0,0 | 1,4 |
| Durable consumer goods | 121,7 | 0,5 | 3,0 |
| Nondurable consumer goods | 132,0 | -0,1 | 1,1 |
| Equipment goods | 120,5 | 0,5 | 1,6 |
| Intermediate goods | 134,9 | 0,6 | -0,3 |
| Energy | 102,6 | -2,7 | -22,0 |
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 June 24, 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 22.0% decrease, and Intermediate Goods, down 0.3%. However, prices of Consumer Goods rose by 1.4%, explained by the 3.0% increase in prices of Consumer Non-Durables and the 1.1% rise in those of Consumer Durables. Lastly, prices of Capital Goods registered growth of 1.6%.
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 92.31% 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