Press Release 23/01/2025
INDUSTRIAL PRICE INDEX. DECEMBER 2024
Industrial prices in the Basque Country increased by 1.2% in December 2024 compared to the previous month
Industrial prices recorded a 1.6% rise compared to December 2023
Industrial prices in the Basque Country increased by 1.2% in December 2024 compared to the previous month, according to Eustat data. The year-on-year rate for December, which indicates the fluctuation in industrial prices over the last twelve months, recorded a 1.6% rise.
A more detailed analysis reveals that in December 2024, the sectors that recorded the most pronounced increases in their prices compared to the previous month were: Electricity, Gas and Steam, with a rise of 16.8%; and Chemical industry, up 1.5%. In contrast, the sectors that recorded the greatest month-on-month decreases in prices were: Extraction Industries, down 1.7%; and Timber, Paper and Graphic Arts, with a 0.4% drop.
According to the classification of goods by economic destination, Energy prices increased by 6.7% compared to November 2024. Prices of Intermediate Goods rose by 0.1%, as did those of Consumer Goods, explained in the case of the latter by the 1.2% increase in prices of Consumer Durables and the 0.2% decrease in prices of Consumer Non-durables. Finally, prices of Capital Goods have remained unchanged compared to the previous month.
In year-on-year terms, December 2024 on December 2023, the greatest increases in prices occurred within the branches of Electricity, Gas & Steam, up 19.3%; and Water, with a rise of 6.9%. In contrast, the prices that experienced the greatest decreases in year-on-year terms were found in the branches of Coke Plants and Oil Refining, with a fall of 6.1%, and Extraction Industries, down 0.5%.
Industrial Price Index of the Basque Country. Variation rate (p). December 2024
| | Index | % Variation |
| | | m / m-1 | m / m-12 |
| General index | 112,7 | 1,2 | 1,6 |
| | | | |
| SECTOR DIVISIONS | | | |
| Mining and quarrying | 126,6 | -1,7 | -0,5 |
| Manufacturing industry | 114,8 | 0,2 | 0,5 |
| Manufacture of food products, beverages and tobacco products | 123,5 | 0,0 | 2,5 |
| Textile industry, garments, leather & shoes | 111,4 | -0,3 | 4,0 |
| Manufacture of wood and paper products, and printing | 122,6 | -0,4 | 3,1 |
| Coke and refined petroleum | 115,9 | 1,4 | -6,1 |
| Chemical industry | 131,3 | 1,5 | 5,8 |
| Manufacture of pharmaceutical products | 108,1 | 0,0 | 2,7 |
| Rubber, plastic and other non-metallic mineral products | 118,4 | 0,4 | 0,7 |
| Metallurgy and metal products | 110,0 | -0,2 | -0,4 |
| Manufacture of computer, electronic and optical products | 111,0 | -0,2 | 3,1 |
| Manufacture of electrical equipment | 113,2 | 0,3 | -0,2 |
| fabricacion de maquinaria y equipo n.e.c | 112,7 | 0,4 | 1,4 |
| Manufacture of transport material | 114,1 | -0,1 | 2,6 |
| Furniture; other industries; repair and installation | 116,1 | 0,6 | 5,0 |
| Electricity, gas and steam | 88,9 | 16,8 | 19,3 |
| Water | 125,7 | 0,0 | 6,9 |
| | | | |
| BY MAJOR INDUSTRIAL SECTORS | | | |
| Consumer goods | 119,5 | 0,1 | 3,5 |
| Durable consumer goods | 114,9 | 1,2 | 5,8 |
| Nondurable consumer goods | 120,8 | -0,2 | 3,0 |
| Equipment goods | 113,1 | 0,0 | 2,2 |
| Intermediate goods | 114,7 | 0,1 | 0,5 |
| Energy | 104,2 | 6,7 | 2,5 |
Base 2021=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 January 23, 2025
Source: Eustat Industrial prices index
Year-on-year price fluctuations for the large goods groups by economic destination were positive in all cases. Prices of Consumer Goods rose by 3.5%, explained by the 5.8% increase in prices of Consumer Durables and the 3.0% rise in those of Consumer Non-durables. Energy prices were up 2.5% and those of Capital Goods rose by 2.2%. Lastly, prices of Intermediate Goods registered a year-on-year increase of 0.5%.
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 85.54% 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