Industrial Price Index. 2021 Baseline

The annual rate of the general Industrial Price Index (IPRI) was -8.2% in February, 4.3 points below than that in January.

By the economic use of the goods, among the industrial sectors that had a notably negative effect on the annual rate of the General IPRI were:

• Energy, which presented a variation of -24.2%, 11.4 points below than that in January, due to the decrease in the prices of Electric power generation, transmission and distribution, compared with the increase recorded in February 2023.

Also worth noting, although in the opposite direction, was the increase in the prices of Gas production; pipeline distribution of gaseous fuels through mains and of petroleum refining, which decreased the same month last year.

• Non-durable consumer goods, whose variation decreased by nine tenths, to 4.7%, the lowest since November 2021. This behaviour is due to the decrease in the prices of the Processing and preservation of meat and production of meat products, which increased in February of last year.

On the other hand, amongst the industrial sectors with a positive influence, worth noting are:

• Intermediate goods, with an annual rate of -5.2%, four tenths above than that of the previous month, and caused mainly by the rise in the prices of the Manufacture of basic chemicals, nitrogen compounds, fertilisers, plastics and synthetic rubber in primary forms, in contrast with the decrease in the same month in 2023.

The annual variation rate of the general index excluding Energy decreased by two tenths, to 0.0%, standing nearly 8.2 points above that of the general IPRI.

In February, the monthly variation rate of the general IPRI was -2.3%.

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

The INE has today updated the IPRI data for the last three months, making the November 2023 data final. All results of this operation are available on INEBase.