Press Release 21/11/2024
INDUSTRIAL PRICE INDEX. OCTOBER 2024
Industrial prices in the Basque Country fell by 0.5% in October 2024 compared to the previous month
In relation to October 2023, industrial prices recorded a 6.3% decrease
Industrial prices in the Basque Country fell by 0.5% in October 2024 compared to the previous month, according to Eustat data. The year-on-year rate for October, which indicates the fluctuation in industrial prices over the last twelve months, recorded a 6.3% decrease.
A more detailed analysis reveals that in October 2024, the sectors that recorded the most pronounced decreases in their prices compared to the previous month were: Electricity, Gas and Steam, with a drop of 3.1%; and Manufacture of pharmaceutical products, down 2.4%. Conversely, the sectors that experienced the greatest month-on-month increases in their prices were Coke Plants & Oil Refining, with a rise of 2.7%, and Manufacture of Computer, Electronic & Optical Products, up 0.9%.
Year-on-year variation rate of the industrial price index in the Basque Country. (%)
Oct, 2023 Dec, 2023 Feb, 2024 Apr, 2024 Jun, 2024 Aug, 2024 Oct, 2024
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Jan, 2006 Jan, 2011 Jan, 2016 Jan, 2021
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According to the classification of goods by economic destination, compared to September 2024, prices of Consumer Goods were down 0.8%, explained by the 0.9% decrease in prices of Consumer Non-durables, given that prices of Consumer Durables remained constant. Prices of Intermediate Goods were down 0.5% and prices of Capital Goods and Energy fell by 0.4%.
In year-on-year terms, October 2024 on October 2023, the greatest decreases in prices occurred within the branches of Electricity, Gas & Steam, down 29.6%; and Coke Plants and Oil Refining, with a 21.4% decrease. In contrast, the prices that experienced the greatest increases in year-on-year terms were found in the branch of Extraction Industries, up 6.4%. In Water and Furniture; Other Manufacturing Industries; Repair and Installation, prices increased by 3.2% compared to October 2023.
Industrial Price Index of the Basque Country. Variation rate (p). October 2024
| INDEX | % VARIATION |
| | m / m-1 | m / m-12 |
GENERAL INDEX | 122,8 | -0,5 | -6,3 |
| | | |
SECTOR DIVISIONS | | | |
Mining and quarrying | 135,1 | 0,0 | 6,4 |
Manufacturing industry | 127,7 | -0,2 | -2,5 |
Manufacture of food products, beverages and tobacco products | 131,6 | -0,8 | -0,2 |
Textile industry, garments, leather & shoes | 113,2 | -0,2 | -2,4 |
Manufacture of wood and paper products, and printing | 143,5 | -0,3 | 2,5 |
Coke and refined petroleum | 120,5 | 2,7 | -21,4 |
Chemical industry | 145,5 | -0,8 | 0,1 |
Manufacture of pharmaceutical products | 127,0 | -2,4 | -2,6 |
Rubber, plastic and other non-metallic mineral products | 120,0 | 0,0 | -1,5 |
Metallurgy and metal products | 139,1 | -0,6 | -0,3 |
Manufacture of computer, electronic and optical products | 122,9 | 0,9 | 2,1 |
Manufacture of electrical equipment | 120,2 | 0,1 | 3,0 |
fabricacion de maquinaria y equipo n.e.c | 116,6 | 0,0 | 1,3 |
Manufacture of transport material | 116,1 | -1,1 | 2,5 |
Furniture; other industries; repair and installation | 121,3 | -0,6 | 3,2 |
Electricity, gas and steam | 92,5 | -3,1 | -29,6 |
Water | 137,3 | 0,8 | 3,2 |
| | | |
BY MAJOR INDUSTRIAL SECTORS | | | |
Consumer goods | 129,4 | -0,8 | -0,2 |
Durable consumer goods | 122,1 | 0,0 | 3,2 |
Nondurable consumer goods | 130,6 | -0,9 | -0,7 |
Equipment goods | 120,8 | -0,4 | 2,2 |
Intermediate goods | 134,3 | -0,5 | 0,0 |
Energy | 102,1 | -0,4 | -28,2 |
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 November 21, 2024
Source: Eustat Industrial prices index
The fluctuation in year-on-year terms of prices in the large goods groups by economic destination was negative in Energy, where there was a 28.2% decrease, and Consumer Goods, where prices were down 0.2%. Prices fell by 0.7% in Consumer Non-durables, while in Consumer Durables prices rose by 3.2%. Prices of Intermediate Goods remained at the same level as the same month of the previous year. Lastly, prices of Capital Goods registered year-on-year growth of 2.2%.
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