Press Release 22/08/2024
INDUSTRIAL PRICE INDEX. JULY 2024
Industrial prices in the Basque Country increased by 0.8% in July 2024 in relation to the previous month
Compared to July 2023, industrial prices recorded a 3.9% decrease
Industrial prices in the Basque Country rose by 0.8% in July 2024 in relation to the previous month, according to Eustat data. The year-on-year rate for July, which indicates the fluctuation in industrial prices over the last twelve months, recorded a downturn of 3.9%.
A more detailed analysis reveals that in July 2024, the sectors that recorded the most pronounced increases in their prices, in respect of the previous month, were: Electricity, Gas and Steam and Manufacture of Computer, Electronic & Optical Products, in both cases with a rise of 1.8%. Conversely, the sectors that experienced the greatest month-on-month decreases in their prices were Extraction Industries, with a fall of 3.0%, and Chemical Industry, down 0.4%.
According to the classification of goods by economic destination, compared to June 2024, Energy prices increased by 1.3%; prices of Intermediate Goods rose by 0.9% and those of Capital Goods were up 0.2%. Prices of Consumer Goods increased by 0.9%, explained by the 1.0% rise in prices of Consumer Non-Durables, given that prices of Consumer Durables remained unchanged.
In year-on-year terms, July 2024 on July 2023, the greatest decreases in prices occurred within the branches of Electricity, Gas & Steam, with a fall of 31.6%, and Coke Plants and Oil Refining, with a 1.6% 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 10.7%, and Textile, garments, leather and footwear industries, up 5.4%.
Industrial Price Index of the Basque Country. Variation rate (p). July 2024
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 123,9 | 0,8 | -3,9 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 135,2 | -3,0 | 10,7 |
| Manufacturing industry | 130,2 | 0,7 | 0,4 |
| Manufacture of food products, beverages and tobacco products | 133,5 | 1,1 | -0,4 |
| Textile industry, garments, leather & shoes | 114,4 | 0,9 | 5,4 |
| Manufacture of wood and paper products, and printing | 142,1 | 0,4 | -0,8 |
| Coke and refined petroleum | 132,8 | 0,7 | -1,6 |
| Chemical industry | 145,2 | -0,4 | -1,0 |
| Manufacture of pharmaceutical products | 133,6 | 1,4 | 2,8 |
| Rubber, plastic and other non-metallic mineral products | 120,5 | 0,1 | -0,9 |
| Metallurgy and metal products | 141,7 | 1,4 | 0,1 |
| Manufacture of computer, electronic and optical products | 124,4 | 1,8 | 2,5 |
| Manufacture of electrical equipment | 120,1 | 0,0 | 2,9 |
| fabricacion de maquinaria y equipo n.e.c | 116,6 | -0,1 | 0,8 |
| Manufacture of transport material | 116,5 | 0,2 | 4,0 |
| Furniture; other industries; repair and installation | 122,3 | 0,0 | 1,6 |
| Electricity, gas and steam | 85,7 | 1,8 | -31,6 |
| Water | 136,6 | 0,8 | 3,0 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 131,4 | 0,9 | 0,2 |
| Durable consumer goods | 121,9 | 0,0 | 3,4 |
| Nondurable consumer goods | 133,0 | 1,0 | -0,2 |
| Equipment goods | 121,0 | 0,2 | 2,5 |
| Intermediate goods | 135,8 | 0,9 | -0,1 |
| Energy | 104,8 | 1,3 | -20,4 |
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 August 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 20.4% decrease, and Intermediate Goods, down 0.1%. Prices of Consumer Goods rose by 0.2%, explained by the 3.4% increase in prices of Consumer Durables, given that those of Consumer Non-Durables fell by 0.2%. Lastly, prices of Capital Goods registered year-on-year growth of 2.5%.
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 86.0% 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