Press Release 23/07/2024
INDUSTRIAL PRICE INDEX. JUNE 2024
Industrial prices in the Basque Country increased by 0.1% in June 2024 in relation to the previous month
Compared to June 2023, industrial prices recorded a 6.0% decrease
Industrial prices of the Basque Country rose by 0.1% in June 2024 in relation to the previous month, according to Eustat data. The year-on-year rate for June, which indicates the fluctuation in industrial prices over the last twelve months, recorded a fall of 6.0%.
A more detailed analysis reveals that in June 2024, the sectors that recorded the most pronounced increases in their prices, in respect of the previous month, were: Electricity, Gas and Steam, with a rise of 4.5%, and Manufacture of Computer, Electronic & Optical Products, up 0.9%. Conversely, the sectors that experienced a month-on-month decrease in their prices were Coke Plants & Oil Refining, down 1.5%, and Manufacture of Pharmaceutical Products, with a 0.9% fall.
According to the classification of goods by economic destination, compared to May 2024, Energy prices increased by 0.9% and prices of Capital Goods rose by 0.2%. Consumer Goods experienced a 0.3% decrease in prices, explained by the 0.2% rise in prices of Consumer Durables, while prices of Consumer Non-Durables were down 0.3%. Lastly, prices of Intermediate Goods decreased by 0.2%.
In year-on-year terms, June 2024 on June 2023, the greatest decreases in prices occurred within the branches of Electricity, Gas & Steam, with a fall of 41.8%, and Timber, Paper & Graphic Arts, down 5.4%. 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 14.2%, and Manufacture of Pharmaceutical Products, up 4.2%.
Industrial Price Index of the Basque Country. Variation rate (p). June 2024
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 122,5 | 0,1 | -6,0 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 139,4 | 0,4 | 14,2 |
| Manufacturing industry | 129,4 | -0,3 | 0,3 |
| Manufacture of food products, beverages and tobacco products | 132,0 | -0,5 | 1,1 |
| Textile industry, garments, leather & shoes | 113,4 | -0,1 | 0,7 |
| Manufacture of wood and paper products, and printing | 141,5 | 0,5 | -5,4 |
| Coke and refined petroleum | 131,8 | -1,5 | 1,5 |
| Chemical industry | 146,2 | -0,1 | -1,8 |
| Manufacture of pharmaceutical products | 131,8 | -0,9 | 4,2 |
| Rubber, plastic and other non-metallic mineral products | 120,3 | -0,3 | -2,2 |
| Metallurgy and metal products | 139,9 | -0,3 | -0,1 |
| Manufacture of computer, electronic and optical products | 122,2 | 0,9 | 1,2 |
| Manufacture of electrical equipment | 120,1 | 0,2 | 2,9 |
| fabricacion de maquinaria y equipo n.e.c | 116,7 | 0,0 | 1,0 |
| Manufacture of transport material | 116,3 | 0,3 | 3,0 |
| Furniture; other industries; repair and installation | 122,3 | 0,0 | 1,2 |
| Electricity, gas and steam | 80,8 | 4,5 | -41,8 |
| Water | 135,5 | -0,3 | 2,7 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 130,2 | -0,3 | 2,0 |
| Durable consumer goods | 121,9 | 0,2 | 3,3 |
| Nondurable consumer goods | 131,6 | -0,3 | 1,8 |
| Equipment goods | 120,8 | 0,2 | 1,8 |
| Intermediate goods | 134,7 | -0,2 | -0,9 |
| Energy | 101,4 | 0,9 | -26,0 |
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 July 23, 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 26.0% decrease, and Intermediate Goods, down 0.9%. However, prices of Consumer Goods rose by 2.0%, explained by the 3.3% increase in prices of Consumer Non-Durables and the 1.8% rise in those of Consumer Durables. Lastly, prices of Capital Goods registered growth of 1.8%.
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 93.69% 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