Eustat

Press release 24/08/11

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

Industrial prices rose by 0.4% in July 2011 on the previous month

The increase was 7.7% on the previous year

Industrial prices in the Basque Country rose by 0.4% in July 2011 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for July, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 7.7%.

A more detailed sectorial analysis shows that the most inflationary branches in July 2011, with regard to the previous month, were "Coke Plants and Oil Refining" (2.4%), followed by "Rubber, Plastic and other Non-Metallic Mineral Products" and "Electricity, Gas, and Steam", which both posted an increase of 1.3%. On the other hand, the branches that experienced the greatest falls in prices were "Extraction Industries" (-1.0%), "Food, Beverages & Tobacco" (-0.5%) and “Manufacture of Electrical Equipment" (0.4%).

During the year-on-year period, July 2011 on July 2010, the highest price rises were recorded by “Coke Plants & Oil Refining" (24.4%) “Electricity, Gas & Steam” (20.9%), and “Food, Beverages & Tobacco” (7.9%). On the other hand, the only sector that posted price downturns was "Extraction Industries" (-7.4%).

According to the Classification of Goods by Economic Destination, and in relation to the previous month, two sectors registered increases in prices; Energy rose 1.9% and Intermediate Goods 0.2%. Prices of Equipment Goods dropped by 0.1% and those of Consumer Goods as a whole posted a downturn of 0.2%, as a consequence of the fall experienced by both Non-Durable Consumer Goods (-0.3%) and Consumer Durable Goods (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 22.9%, Intermediate Goods by 6.3%, Equipment Goods were up 1.9% and Consumer Goods registered a 2.1% increase. Among the latter, the prices of Consumer Non-Durables rose 2.9% whilst Consumer Durables were up by 0.2%.

For further information:

Basque Statistics Office
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Tel: +34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: eustat@eustat.es
Contact: Gerardo Pérez Aja
Tel: +34-945-01 75 06 Fax:+34-945-01 75 01
Further press releases on IPRI - Industrial Price Index of the Basque Country