25 January 2024

Industrial Price Index. 2015 Baseline

December 2023. Provisional data

Main results

  • The annual variation of the Industrial Price Index increased 1.3 points in December, to -6.3%
  • The monthly rate of industrial prices was -0.3%.

The annual rate of the general Industrial Price Index (IPRI) in the month of December was -6.3%, 1.3 tenths above that recorded in November.

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

  • Energy, whose variation increased 2.9 points and stood at -20.6%, due to the fact that the prices of Refined petroleum decreased less than in December 2022, and to the rise in prices of Production, transport and distribution of electrical energy, which had decreased in the same month of 2022.
    Also worth noting, although in the opposite direction, was that the prices of Gas production; pipeline distribution of gaseous fuels through mains decreased, while increasing in December 2022.
  • Intermediate goods, with a rate of -4.9%, six tenths above than that of the previous month, and caused by the fall in the prices of the Manufacture of basic chemicals, nitrogen compounds, fertilisers, plastics and synthetic rubber in primary forms, which was lower than that of the same month in 2022.

On the other hand, amongst the industrial sectors with a negative influence, worth noting are.

  • Non-durable consumer goods, whose rate decreased five tenths, up to 7.0%. This evolution is due to the fact that the increase in prices of the Manufacture of vegetable and animal oils and fats was lower than that of December 2022.

The annual variation rate of the general index excluding Energy increased by two tenths, to 1.1%, standing nearly 7.4 points above that of the general IPRI.

Annual evolution of the IPRI. December 2023
General index and general index without Energy. Percentage

Monthly evolution of industrial prices

In December, the monthly variation rate of the general IPRI was -0.3%.

A more detailed analysis shows the activities that most affected the monthly IPRI rate in the month of December.

Activities with the greatest positive contribution to the monthly rate of the IPRI. December 2023
Activities with the greatest negative contribution to the monthly rate of the IPRI. December 2023

Results by Autonomous Communities. Annual variation rates

The annual rate of the IPRI decreased in all communities in December. The largest decreases were recorded in Principado de Asturias (-16.6%), Illes Balears (-16.1%) and Canarias (-13.9%).

On the other hand, Extremadura (-2.5%), Comunidad Foral de Navarra (-3.6%) y Comunitat Valenciana (-3.8%) were the communities where the annual rate decreased the least.

Annual variation rates of the IPRI. December 2023
Index by Autonomous Community. Percentage

Data review and update

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

Methodological note

The Industrial Price Index (IPRI) 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 commercialisation, that is to say, at ex-factory prices, excluding transport and commercialisation costs and invoiced VAT.

Type of survey:
monthly continuous survey.
Base year:
Reference period of the weightings:
the year preceding the current year.
Population scope:
industrial establishments.
Sample size:
9,000 industrial establishments and 1,500 items.
Number of observations:
approximately 28,000 monthly prices.
General calculation method:
Laspeyres Chain Index.
Collection method:
internet (IRIA system), e-mail, fax, telephone or postal mail.

For more information you can access the methodology and the standardized methodological report.

INE statistics are produced in accordance with the Code of Good Practice for European Statistics. More information on Quality at INE and Code of Best Practices.

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