Export prices moderate their rise in March to 1.9% and import prices turn negative

MADRID, 28 Abr. (EUROPA PRESS) -

The General Export Price Index of industrial products registered an interannual increase of 1.9% last March, a rate almost 3.5 points lower than that of the previous month and the lowest since February 2021, as reported this Friday the National Institute of Statistics (INE).

It is the ninth consecutive month in which the interannual rate of export prices of industrial products has moderated, which in previous months reached record growth in 16 years.

With the data for March, the prices of industrial exports chain 27 consecutive months of positive interannual rates, although that of February has been the smallest advance in this indicator since February 2021.

March's year-on-year growth has been reduced compared to February due to energy and intermediate goods. Specifically, energy cut its interannual rate by 21 points, down to -39%, due to cheaper electricity production.

Regarding the import prices of industrial products, these decreased by 0.4% in March compared to the same month in 2022, going negative for the first time since February 2021.

This evolution was also influenced by energy, which cut its interannual rate by more than 25 points, to -20.5%, due to the lower cost of extracting crude oil and, to a lesser extent, coke ovens and oil refining.