Press Release: Export Price Index (IPRIX) and Import Price Index (IPRIM) of Industrial Products. Base 2021. February 2024. Provisional data.

Main results

The annual rate of the IPRIX stood at -2.0%, 1.5 points below the rate recorded in January.
The annual variation of the IPRIM was -4.1%, 2.2 points higher than in the previous month.

More information

Annual evolution of export prices

The annual rate of the Export Price Index (IPRIX) in February was -2.0%, 1.5 points below that recorded in January.

Among the industrial sectors that had a negative influence on the evolution of the annual rate of the IPRIX by economic use of the goods the following stand out:

Energy, whose annual rate decreased by 17 points, to -27.7%, due to the fall in the prices of the Electric power generation, transmission and distribution, which increased in February 2023.

Also noteworthy, although in the opposite direction, was the increase in the prices of Refined petroleum products, in contrast to the fall in the same month the previous year.

Capital goods, with a variation of 2.8%, five tenths below that of January, which was a result of the decrease in the prices of Manufacture of motor vehicles, which rose in February of the previous year.

The annual variation of the general index excluding Energy decreased by three tenths, to -0.1%, standing nearly 1.9 points above that of the general IPRIX.

Annual evolution of the IPRIX

General index and general index without Energy. Percentage

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            "5.8",
            "5.2",
            "1.9",
            "-0.2",
            "-1.9",
            "-2.6",
            "-2.7",
            "-2.6",
            "-1.9",
            "-1.4",
            "-1.8",
            "-1.3",
            "-0.5",
            "-2.0"
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            "8.0",
            "6.9",
            "5.6",
            "2.9",
            "1.6",
            "1.0",
            "0.5",
            "0.5",
            "0.3",
            "0.2",
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Evolution of industrial prices, combining domestic and foreign markets

The Industrial Price Index of domestic and foreign markets, which is obtained through aggregating the IPRI and the IPRIX, fell by 3.1 points in its annual rate in February, to -5.9%. As for the annual variation of the general index without Energy, it decreased by two tenths, to 0.0%.

Annual evolution of the IPRI+IPRIX

General index and general index without Energy. Percentage

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        "Oct-23",
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        "Jan-24",
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            "7.5",
            "7.1",
            "-0.2",
            "-2.8",
            "-4.9",
            "-6.1",
            "-6.6",
            "-7.6",
            "-6.4",
            "-5.6",
            "-5.4",
            "-4.4",
            "-2.8",
            "-5.9"
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        [
            "9.5",
            "8.5",
            "6.6",
            "3.7",
            "2.4",
            "1.7",
            "1.3",
            "1.2",
            "1.2",
            "0.8",
            "0.6",
            "0.9",
            "0.2",
            "0.0"
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Monthly evolution of export prices

In February, industrial export prices recorded a monthly rate of -0.6%, as compared to the month of January.

Activities with the greatest positive contribution to the monthly rate of the IPRIX. February 2024

Activities with the greatest negative contribution to the monthly rate of the IPRIX. February 2024

Annual evolution of import prices

The Import Price Index (IPRIM) recorded an annual variation of -4.1% in February, 2.2 points higher than in January.

Among the industrial sectors with a negative effect on the variation in the annual rate of the IPRIM, and by economic use, the following were noteworthy:

Energy, whose variation of -13.8% rose by 9.4 points. This behaviour is a consequence of the rise in the prices of Extraction of crude petroleum and natural gas, and in to lesser extent, of the Manufacture of coke and refined petroleum products, which fell in the same month of the previous year.

In the opposite direction, the rise in prices for Electricity, gas, steam and air conditioning supply was worth noting. These increased in February 2023.

Intermediate goods, with an annual rate of -5.8%, six tenths below the figure for January, and caused mainly by the rise in the prices of the Chemical Industry, in contrast with the decrease in February 2023.

On the other hand, the only sector with a negative influence was:

Capital goods, whose variation decreased by five tenths and stood at 1.7%, which was a result of the decrease in the prices of the Manufacture of motor vehicles, trailers and semi-trailers, whereas they rose in the same month of the previous year.

The annual variation rate of the overall index excluding Energy increased one tenth, to -2.0%, which is 2.1 points above the rate of the general IPRIM.

Annual evolution of the IPRIM

General index and general index without Energy. Percentage

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        [
            "11.4",
            "6.5",
            "-0.5",
            "-3.7",
            "-4.9",
            "-7.2",
            "-8.8",
            "-9.4",
            "-8.1",
            "-7.3",
            "-6.5",
            "-5.2",
            "-6.3",
            "-4.1"
        ],
        [
            "8.7",
            "6.8",
            "4.8",
            "2.4",
            "1.1",
            "0.5",
            "-0.6",
            "-1.3",
            "-1.5",
            "-1.6",
            "-1.3",
            "-1.2",
            "-2.1",
            "-2.0"
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Monthly evolution of import prices

In February, the monthly variation of the Import Price Index was 0.3%.

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

Activities with the greatest positive contribution to the monthly rate of the IPRIM. February 2024

Activities with the greatest negative contribution to the monthly rate of the IPRIM. February 2024

Reviews and data updates

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

Methodological note

The Export Price Index (IPRIX) is a short-term indicator that measures the monthly evolution of the prices of industrial products manufactured in the domestic market and sold in the foreign market.

On the other hand, the Import Price Index (IPRIM) is a short-term indicator that measures the monthly evolution of the prices of industrial products from the rest of the world.

In order to obtain them, a continuous monthly survey is conducted, which every month investigates industrial establishments that carry out operations in the foreign market.

Type of survey:: monthly continuous survey.
Base year:: 2021.
Reference period of the weightings:: the year preceding the current year.
Population scope:: industrial establishments.
Sample size:: 4,100 industrial establishments for the IPRIX and 5,200 for the IPRIM.
Number of observations:: In the IPRIX approximately 15,000 monthly prices of 1,700 products and in the IPRIM about 19,000 prices of 2,100 products.
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 methodologies (IPRIX and IPRIM) and the standardised methodological report.

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