Industrial prices decreased by 7.4% in November Regarding the same month in 2022, the decrease recorded in October was a modest three-tenths, as reported this Tuesday by the National Statistics Institute (INE).
Inflation in industrial sector chains with annual decline in November nine months of negative interest rates It ended a period of 26 consecutive months of increases in which it recorded double-digit positive rates for more than 20 months after March.
The development of industrial prices in November depends on: increase in energyIt increased the interest rate by more than four-tenths to -23%, due to the decline in prices for gas production and pipeline distribution of gaseous fuels being less than in November 2022. November industrial inflation remains moderate. at the rate non-durable consumer goods affectedDue to the stabilization in dairy product manufacturing prices compared to the increase in November last year and, to a lesser extent, the increase in dairy product manufacturing prices, the rate decreased by almost 1 point to 7.5 percent. Production of vegetable and animal oils and fats is lower than in 2022.
monthly decline
On a monthly basis (November-October) industrial prices fell by 2%. The biggest monthly decrease was in November Industrial prices have fallen by 2.5% since last March. The energy sector was the sector that caused this monthly decline in industrial prices, recording a 6.4% decline due to the low cost of oil refining and gas and electric power generation.
Moreover, Intermediate goods decreased by 0.4% month on monthIt is a result of the decline in the prices of basic chemical products, nitrogenous compounds, fertilizers, plastics and the manufacture of synthetic rubber in primary forms.
Among the industrial sectors with a positive monthly impact, non-durable consumer goods stand out, with a change of 0.0% due to the increase in the prices of the manufacturing of other food products and the processing and preservation of fruits and vegetables. vegetables. .
Increase in seven regions
Annual rate of Industrial Price Index according to statistical data In November, it increased in seven autonomous communities, decreased in eight and remained constant in the remaining two.
Specifically, the largest increases occur in the Basque Country, Cantabria and the Valencian Community, whose rates increased by 2.4, 2.3 and 1.4 percentage points respectively. The Canary Islands, Andalusia and the Balearic Islands were the communities where the rate decreased the most, with decreases of 1.8, 1.6 and 0.8 points, respectively.
All communities presented at the end of November. negative rates industrial prices. The most prominent were Asturias (-16.5%), the Balearic Islands (-16.5%) and the Canary Islands (-13.6%).