Press Release 24/09/2024
INDUSTRIAL PRICE INDEX. AUGUST 2024
Industrial prices in the Basque Country fell by 0.3% in August 2024 in relation to the previous month
In respect of August 2023, industrial prices recorded a 5.5% decrease
Industrial prices in the Basque Country were down 0.3% in August 2024 in relation to the previous month, according to Eustat data. The year-on-year rate for August, which indicates the fluctuation in industrial prices over the last twelve months, recorded a downturn of 5.5%.
A more detailed analysis reveals that in August 2024, the sectors that recorded the most pronounced decreases in their prices in respect of the previous month were: Coke Plants & Oil Refining, with a drop of 6.5%; and Metallurgy and Metal Products, down 1.4%. In contrast, the sectors that recorded the highest month-on-month increases in prices were: Electricity, Gas & Steam, with a rise of 8.5%; and Chemical Industry, up 0.8%.
According to the classification of goods by economic destination, compared to July 2024, Intermediate Goods prices decreased by 1.0%, those of Consumer Goods were down 0.6%, explained by the 0.2% increase in prices in Consumer Durables, while those of Consumer Non-durables decreased by 0.7%. Energy prices decreased by 0.1% while Capital Goods increased by 0.3%.
In year-on-year terms, August 2024 on August 2023, the greatest decreases in prices occurred within the branches of Electricity, Gas & Steam, down 24.0%, and Coke Plants and Oil Refining, with a 17.3% decrease. 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 9.8%, and Textile, garments, leather and footwear industries, up 5.8%.
Industrial Price Index of the Basque Country. Variation rate (p). August 2024
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 124,1 | -0,3 | -5,5 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 135,5 | 0,2 | 9,8 |
| Manufacturing industry | 128,7 | -1,3 | -2,7 |
| Manufacture of food products, beverages and tobacco products | 132,9 | -0,8 | 1,1 |
| Textile industry, garments, leather & shoes | 114,8 | 0,3 | 5,8 |
| Manufacture of wood and paper products, and printing | 142,1 | -0,2 | -2,1 |
| Coke and refined petroleum | 124,1 | -6,5 | -17,3 |
| Chemical industry | 146,4 | 0,8 | 0,8 |
| Manufacture of pharmaceutical products | 130,0 | 0,2 | -1,3 |
| Rubber, plastic and other non-metallic mineral products | 119,3 | -1,0 | -1,9 |
| Metallurgy and metal products | 140,3 | -1,4 | -2,4 |
| Manufacture of computer, electronic and optical products | 123,3 | -0,8 | 1,5 |
| Manufacture of electrical equipment | 120,1 | 0,0 | 3,0 |
| fabricacion de maquinaria y equipo n.e.c | 116,8 | 0,0 | 0,8 |
| Manufacture of transport material | 116,9 | 0,3 | 3,1 |
| Furniture; other industries; repair and installation | 122,6 | 0,3 | 0,4 |
| Electricity, gas and steam | 95,7 | 8,5 | -24,0 |
| Water | 135,9 | -0,5 | 3,0 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 130,8 | -0,6 | 1,3 |
| Durable consumer goods | 122,1 | 0,2 | 3,6 |
| Nondurable consumer goods | 132,3 | -0,7 | 1,0 |
| Equipment goods | 121,4 | 0,3 | 2,0 |
| Intermediate goods | 134,7 | -1,0 | -1,9 |
| Energy | 106,1 | -0,1 | -24,2 |
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 September 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 24.2% decrease, and Intermediate Goods, down 1.9%. Prices of Consumer Goods rose by 1.3%, explained by the 3.6% increase in prices of Consumer Non-Durables and the 1.0% rise in those of Consumer Durables. Lastly, prices of Capital Goods registered year-on-year growth of 2.0%.
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 92.11% 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