INDUSTRIAL PRICE INDEX OF THE BASQUE COUNTRY (IPRI) JUNE 2011. Industrial prices rose by 0.3% in June 2011 on the previous month

Press release dated 21/07/2011

INDUSTRIAL PRICE INDEX OF THE BASQUE COUNTRY (IPRI) JUNE 2011

Industrial prices rose by 0.3% in June 2011 on the previous month

The increase was 7.2% on the previous year

Industrial prices in the Basque Country rose by 0.3% in June 2010 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for June, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 7.2%.

December year-on-year variation rates (%) of Industrial Prices in the Basque Country. Provisional data

A more detailed sectorial analysis shows that the most inflationary branch in June 2011, with regard to the previous month, was "Electricity, Gas & Steam" (1.8%), followed by "Manufacturing Electrical Equipment & Material" (0.6%) and "Chemical Industry" (0.5%), which posted lower hikes. By contrast, the sectors with the greatest falls in prices were “Extraction Industries" (-0.5%) and " Coke Plants & Oil Refining " (-0.2%).

During the year-on-year period, May 2011 on May 2010, the highest price rises were recorded by “Electricity, Gas & Steam" (19.2%) “Coke Plants & Oil Refining” (17.7%), and “Food, Beverages & Tobacco” (8.2%). On the other hand, the only sector that posted price downturns was the "Extraction Industries" (-8.3%).

According to the Classification of Goods by Economic Destination, and in relation to the previous month, all sectors registered an increase in prices; Energy was up 0.6%, Intermediate Goods by 0.2% and the overall prices of Consumer Goods increased by 0.1%, due to the upturn posted by Consumer Non-Durables 0.2%, as Consumer Durables decreased by 0.1%.

The price evolution of these large groups of goods also increased in all cases over the year-on-year period. Energy prices increased by 18.4%, Intermediate Goods by 6.5%, Capital Goods were up 2.2% and Consumer Goods registered a 2.7% increase. Among the latter, the prices of Consumer Non-Durables rose 3.6% while Consumer Durables were up by 0.2%.

INDUSTRIAL PRICE INDEX. BASQUE COUNTRY. DATA SUMMARY. JUNE 2011