Press Release 24/10/2024
INDUSTRIAL PRICE INDEX. SEPTEMBER 2024
Industrial prices in the Basque Country fell by 0.5% in September 2024 in relation to the previous month
In respect of September 2023, industrial prices recorded a 6.5% decrease
Industrial prices in the Basque Country fell by 0.5% in September 2024 compared to the previous month, according to Eustat data. The year-on-year rate for September, which indicates the fluctuation in industrial prices over the last twelve months, recorded a 6.5% decrease.
A more detailed analysis reveals that in September 2024, the sectors that recorded the most pronounced decreases in their prices in respect of the previous month were: Coke Plants and Oil Refining, down 5.4%; and Manufacture of Computer, Electronic & Optical Products, with a 1.2% drop. Conversely, the sectors that experienced a higher month-on-month increase in their prices were Timber, paper and graphic arts, up 1.3%, and Rubber, Plastic and Other Non-Metallic Mineral Products, with a 0.7% rise.
According to the classification of goods by economic destination, compared to August 2024, Energy prices fell by 3.4%; those of Consumer Goods were down 0.3%, explained by the 0.3% decrease in prices in Consumer Non-durables, given that prices of Consumer Durables remained constant. Prices of Intermediate Goods increased by 0.1%, while those of Capital Goods also remained constant.
In year-on-year terms, September 2024 on September 2023, the greatest decreases in prices occurred within the branches of Electricity, Gas & Steam, down 26.5%, and Coke Plants and Oil Refining, with a 26.1% 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 7.6%, and Manufacture of transport equipment, up 3.6%.
Industrial Price Index of the Basque Country. Variation rate (p). September 2024
| | INDEX | % VARIATION |
| | | m / m-1 | m / m-12 |
| GENERAL INDEX | 123,4 | -0,5 | -6,5 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 135,1 | -0,3 | 7,6 |
| Manufacturing industry | 128,0 | -0,6 | -3,4 |
| Manufacture of food products, beverages and tobacco products | 132,7 | -0,2 | 0,7 |
| Textile industry, garments, leather & shoes | 113,9 | -0,8 | 1,1 |
| Manufacture of wood and paper products, and printing | 143,9 | 1,3 | -2,6 |
| Coke and refined petroleum | 117,4 | -5,4 | -26,1 |
| Chemical industry | 146,8 | -0,4 | 0,9 |
| Manufacture of pharmaceutical products | 130,1 | 0,1 | -3,3 |
| Rubber, plastic and other non-metallic mineral products | 120,1 | 0,7 | -1,7 |
| Metallurgy and metal products | 140,0 | -0,2 | -0,3 |
| Manufacture of computer, electronic and optical products | 121,9 | -1,2 | 0,0 |
| Manufacture of electrical equipment | 120,1 | 0,0 | 3,0 |
| fabricacion de maquinaria y equipo n.e.c | 116,8 | 0,0 | 1,0 |
| Manufacture of transport material | 117,4 | 0,4 | 3,6 |
| Furniture; other industries; repair and installation | 122,1 | -0,4 | 0,8 |
| Electricity, gas and steam | 95,5 | -0,2 | -26,5 |
| Water | 136,2 | 0,3 | 3,0 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 130,5 | -0,3 | 0,7 |
| Durable consumer goods | 122,1 | 0,0 | 3,2 |
| Nondurable consumer goods | 131,8 | -0,3 | 0,3 |
| Equipment goods | 121,4 | 0,0 | 1,9 |
| Intermediate goods | 134,9 | 0,1 | -0,4 |
| Energy | 102,5 | -3,4 | -30,2 |
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 October 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 30.2% decrease, and Intermediate Goods, down 0.4%. Prices of Consumer Goods rose by 0.7%, explained by the 3.2% increase in prices of Consumer Non-Durables and the 0.3% rise in those of Consumer Durables. Lastly, prices of Capital Goods registered year-on-year growth of 1.9%.
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 93.10% 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