Export Price Index (IPRIX) and Import Price Index (IPRIM) of Industrial Products. Base 2021

The annual rate of the Export Price Index (IPRIX) in February was -2.0%, 1.5 points below that recorded in January.

Among the industrial sectors that had a negative influence on the evolution of the annual rate of the IPRIX by economic use of the goods the following stand out:

• Energy, whose annual rate decreased by 17 points, to -27.7%, due to the fall in the prices of the Electric power generation, transmission and distribution, which increased in February 2023.

Also noteworthy, although in the opposite direction, was the increase in the prices of Refined petroleum products, in contrast to the fall in the same month the previous year.

• Capital goods, with a variation of 2.8%, five tenths below that of January, which was a result of the decrease in the prices of Manufacture of motor vehicles, which rose in February of the previous year.

The annual variation of the general index excluding Energy decreased by three tenths, to -0.1%, standing nearly 1.9 points above that of the general IPRIX.

The Industrial Price Index of domestic and foreign markets, which is obtained through aggregating the IPRI and the IPRIX, fell by 3.1 points in its annual rate in February, to -5.9%. As for the annual variation of the general index without Energy, it decreased by two tenths, to 0.0%.

The Import Price Index (IPRIM) recorded an annual variation of -4.1% in February, 2.2 points higher than in January.

Among the industrial sectors with a negative effect on the variation in the annual rate of the IPRIM, and by economic use, the following were noteworthy:

• Energy, whose variation of -13.8% rose by 9.4 points. This behaviour is a consequence of the rise in the prices of Extraction of crude petroleum and natural gas, and in to lesser extent, of the Manufacture of coke and refined petroleum products, which fell in the same month of the previous year.

In the opposite direction, the rise in prices for Electricity, gas, steam and air conditioning supply was worth noting. These increased in February 2023.

• Intermediate goods, with an annual rate of -5.8%, six tenths below the figure for January, and caused mainly by the rise in the prices of the Chemical Industry, in contrast with the decrease in February 2023.

On the other hand, the only sector with a negative influence was:

• Capital goods, whose variation decreased by five tenths and stood at 1.7%, which was a result of the decrease in the prices of the Manufacture of motor vehicles, trailers and semi-trailers, whereas they rose in the same month of the previous year.

The annual variation rate of the overall index excluding Energy increased one tenth, to -2.0%, which is 2.1 points above the rate of the general IPRIM.

In February, the monthly variation of the Import Price Index was 0.3%.

A more detailed analysis shows the activities that most affected the monthly IPRIM rate in February.