INDUSTRIAL PRICE INDEX OF THE BASQUE COUNTRY (IPRI) AUGUST 2011. Industrial prices fell by 0.2% in August 2011 on the previous month

Press release 22.09.11

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

Industrial prices fell by 0.2% in August 2011 on the previous month

They rose by 7.1%, with regards to the previous year

Industrial prices in the Basque Country fell by 0.2% in August 2011 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for August, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 7.1%.

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

A more detailed sectorial analysis shows that in August 2011 the most inflationary branch, compared to the previous month, was “Timber, paper, and graphic arts” (2.4%), followed by “Electronic and computer products” (0.7%) and “Machinery and Equipment”, with an increase of 0.5%. By contrast, the sectors with the greatest falls in prices were “Coke Plants & Oil Refining" (-3.5%) , “Extraction Industries” (-0.5%) and “Food, beverages and tobacco” (0.2%).

During the year-on-year period, August 2011 on August 2010, the highest price rises were recorded by “Electricity, Gas & Steam" (21.0%) “Coke Plants & Oil Refining” (20.0%), and “Chemical Industry” (7.7%). On the other hand, the only sector that posted price downturns was "Extraction Industries" (-6.4%).

With regards to the classification of Goods by economic destination, and compared to the previous month, the only sector that recorded a fall is Energy, which saw a reduction in its prices of 1.8%. Equipment Goods and Intermediate Goods rose with respect to the previous month by 0.2% in both cases. Consumer Goods as a whole also saw growth of 0.2%, due to the rises obtained by Consumer Durables (0.4%) and Consumer Non-Durables (0.1%).

The price evolution of these large groups of goods increased in all cases over the year-on-year period. Energy prices increased by 20.4%, Intermediate Goods by 5.7%, Equipment Goods were up 2.1% and Consumer Goods registered a 2.2% increase. Among the latter, the prices of Consumer Non-Durables rose 2.9% whilst Consumer Durables were up by 0.5%.

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