INDUSTRIAL PRICE INDEX OF THE BASQUE COUNTRY (IPRI) OCTOBER 2011. Industrial prices rose by 0.1% in October 2011 on the previous month

Press release 24/11/2011

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

Industrial prices rose by 0.1% in October 2011 on the previous month

They were up by 7.0%, with respect to the previous year

Industrial prices in the Basque Country rose by 0.1% in October 2011 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for October, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 7.0%.

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 branches in July 2011, with regard to the previous month, were “Electricity, Gas, and Steam”, (0.5%), followed by "Extraction Industries” (0.4%) and “Metallurgy and Metal Products” (0.3%). On the other hand, the greatest drops in prices were in "Rubber, Plastic and other Non-Metallic Mineral Products" (-0.4%) and "Computer, Electronic and Optical Products" (-0.2%).

During the year-on-year period, October 2011 on October 2010, the highest price rises were recorded by “Coke Plants & Oil Refining" (23.8%) “Electricity, Gas & Steam” (22.5%), and “Chemical Industry” (7.4%). On the other hand, the only sector that posted price downturns was "Extraction Industries" (-1.1%).

According to the classification of goods by economic destination, and in relation to the previous month, Energy prices rose 0.2%, those of Intermediate Goods by 0.1% and those of Equipment Goods also rose by 0.1%. Prices of Consumer Goods as a whole also experienced growth of 0.1%, due to the rises obtained by Consumer Non-Durables (0.1%), whereas Consumer Durables remained unchanged (0.0%)

The price evolution of these large groups of goods increased in all cases over the year-on-year period. Energy prices increased by 23.2%, those of Intermediate Goods by 4.5%, those of Equipment Goods were up 2.4% and there was a 2.2% increase in prices of Consumer Goods. Among the latter, the prices of Consumer Non-Durables rose 2.8% whilst Consumer Durables were up by 0.7%.

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