INDUSTRIAL PRICE INDEX OF THE BASQUE COUNTRY (IPRI) DECEMBER 2011. Industrial prices fell by 0.3% in December 2011 compared to the previous month

Press release 24/01/2012

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

Industrial prices fell by 0.3% in December 2011 compared to the previous month

They were up by 4.8% with respect to the previous year

Industrial prices in the Basque Country fell by 0.3% in December 2011 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for December, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 4.8%.

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 December 2011, with regard to the previous month, was “Extraction industries” (2.2%), followed by “Timber, paper and graphic arts” (0.2%), “Chemical industry” (0.2%) and “Manufacture of Electrical Equipment” (0.2%), On the other hand, the branches that experienced the greatest falls in prices were "Electricity, Gas & Steam" (-0.8%), "Food, Beverages & Tobacco" (-0.7%) and “Metallurgy and Metal Products" (0.5%).

During the year-on-year period, December 2011 on December 2010, the highest price rises were recorded by “Electricity, Gas & Steam" (20.1%) “Coke Plants & Oil Refining” (15.8%), and “Chemical Industry” (6.7%). On the other hand, the sectors that experienced the lowest price rises were “Manufacture of electrical equipment” (0.2%) and “Textile industry, garments, leather & shoes” (0.5%).

According to the classification of goods by economic destination, and in relation to the previous month, Energy prices fell by 0.6%, those of Intermediate Goods by 0.4% and those of Equipment Goods also fell by 0.1%. Prices of Consumer Goods as a whole also experienced growth of 0.2%, due to the rise obtained by Consumer Non-Durables (0.3%), whereas Consumer Durables experienced a more moderate rise in prices (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 17.6%, those of Equipment Goods by 2.1%, those of Intermediate Goods were up 1.8% and there was also a 1.8% increase in prices of Consumer Goods. Amongst the latter, the prices of Consumer Non-Durables rose 2.3% whilst Consumer Durables were up by 0.8%.

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