Industrial prices soar 41.8% in August due to energy

MADRID, 26 Sep. (EUROPA PRESS) -

Industrial prices soared 41.8% in August compared to the same month of 2021 and climbed 2.8% compared to the previous month, as reported on Monday by the National Institute of Statistics (INE).

With the year-on-year rise in August, almost 1.5 points higher than that experienced in July, industrial prices chained 20 consecutive months of positive rates.

After four months in a row in which the year-on-year rate moderated month by month, industrial prices picked up again in August, but without reaching the highs reached last March, when they rose at a rate of 47%.

The increase in industrial prices registered in August is fundamentally due to energy, which increased its annual variation by almost six points, to 107.4%, due to the higher cost of gas production, as well as non-durable consumer goods , whose annual rate increased by more than one point, to 12.6%, due to the higher cost of manufacturing oils and fats and the production of meat products.

By contrast, the prices of intermediate goods cut their year-on-year rate in August by more than 1.5 points, to 20%, due to cheaper manufacturing of chemical products.

By activities, the largest price increases compared to August 2021 occurred in the supply of electricity and gas (120.3%); coking plants and oil refining (83.1%); the chemical industry (26%) and the paper industry (25.6%).

According to the INE, without counting energy, industrial prices showed a year-on-year rise of 14.4% last August, a rate two tenths lower than that of July and almost 27.5 points below the general rate.

PRICES RISE 2.8% IN THE MONTH

In monthly rate (August over July), industrial prices rose by 2.8%, their highest rise since last March, when they soared by 6.7%. With the data for August, 18 months of positive monthly rates are chained.

In August, the advances in the prices of energy (7.6%) and non-durable consumer goods (0.9%) and the decrease, by 0.4%, in the prices of intermediate goods stood out.

PRICES ACCELERATE THEIR PROGRESS IN 11 COMMUNITIES

The annual rate of the industrial price index increased in August in eleven autonomous communities and moderated in six, according to Statistics.

The largest increases with respect to the July rate occurred in Madrid, the Basque Country and Castilla y León, with increases of 6; 4.4 and 3.8 points, respectively.

For its part, the greatest decreases in the interannual rate were registered in Andalusia, Murcia and Asturias, with setbacks of 3.2; 2.6 and 1.6 points, respectively.

At the end of August, all the communities presented positive rates of industrial prices.

The highest annual rates were in the Balearic Islands (64.9%), the Canary Islands (56%), Asturias (55.7%) and Murcia (55%), while the most moderate corresponded to La Rioja (26.2%). ), Navarra (27.8%) and Catalonia (29.7%).