Spanish industry prices have broken their downward trend. After twenty consecutive months of declines, in November they increased 0.9% compared to the same month of 2023an increase 4.8 points higher than that registered in October. The data are from the latest edition of the Industrial Price Index (IPRI) published today by the National Institute of Statistics (INE).
This indicator measures the prices of industrial products manufactured and sold in the domestic market. The photograph is taken in the first step of its commercialization, that is, excluding transport and marketing costs and VAT.
The INE explains this rise in prices by the energy sector, which had an annual variation of 15.3 points (a rebound of 2.4%), the highest since February 2023. Within this package, in turn, what pushed inflation up the most was the increase in the cost of the production, transportation and distribution of electrical energy. Second in importance was oil refining. In fact, if energy is discounted, the annual variation rate of the general index decreased two tenths, to 0.2%, and was 0.7 points below that of the general index.
On the other hand, the only sector that had a negative influence was the so-called ‘non-durable consumer goods’, with a rate of 0.5%, one point below that of October. The INE explains this by the evolution of electricity prices. oil manufacturing and vegetable and animal fats, which decreased by 8.5% in monthly rate compared to the increase experienced in November of the previous year.
By autonomous community, industrial prices rose in twelve of them and were negative in the remaining five. The highest rates were in the Canary Islands (17.2%), the Balearic Islands (15.3%) and the Principality of Asturias (14.9%). For its part, the Region of Murcia (-3.9%), Andalusia (-1.9%) and the Basque Country (-1.6%) presented the lowest rates.
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