The industrial manufacturing price of motor vehicles in Spain has increased by 2.9% between January and November of this year, according to the latest data offered by the Statistics National Institute (INE).
The Industrial Price Index (IPRI) offered by the INE is a short-term indicator that measures the monthly evolution of the prices of industrial products manufactured and sold in the domestic market, in the first step of their commercialization, that is, the prices of sale at factory outlet, excluding transportation and marketing costs and VAT invoiced.
According to this indicator, in November 2023 the industrial price of motor vehicle manufacturing has been 3.5% higher in year-on-year terms, while in relation to October it has decreased by 0.1%.
On the other hand, the industrial price of the manufacture of bodies for motor vehicles, trailers and semi-trailers has accumulated an increase of 6.2% until November, while in the penultimate month of the year the increase in relation to the same month of 2022 has also been 6.2%. Likewise, it has remained unchanged compared to October.
Meanwhile, industrial prices for the manufacture of components, parts and accessories for motor vehicles have accumulated an increase of 0.6% until November of this year, while the increase in prices in the penultimate month of 2023 in relation to a year before is 1%. However, these prices have also stagnated in the month-on-month comparison.
In general, industrial prices fell 7.4% in November compared to the same month in 2022, moderating the decline registered in October by three tenths.
With the year-on-year decrease in November, inflation in the industrial sector has been experiencing negative rates for nine months after March put an end to a period of 26 consecutive months of increases, in which it recorded double-digit rates for more than 20 months. .
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