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

Main results

The annual rate of the IPRIX stands at 1.0%, one point higher than the rate recorded in June.
The annual variation of the IPRIM was 2.1%, two tenths higher than in the previous month.

More information

Annual evolution of export prices

The annual rate for the Export Price Index (IPRIX) in July was 1.0%, one point over that recorded in June.

By economic use of the goods, all industrial sectors had a positive effect on the annual rate of the General IPRIX. Among these, worth noting were:

Energy, with an annual rate of -4.9%, 6.5 points higher than in the previous month, caused by the increase in the prices of electricity power generation, transmission and distribution, which decreased in July of the previous year.
Capital goods, whose variation of 1.3%, six tenths higher than that of June, was due to the fact that the prices of Motor vehicle manufacturing fell less than in the same month of 2023.
Intermediate goods, which increased its rate by five tenths to -0.1%, mainly as a result of the stability of the prices of the Manufacture of basic chemicals, nitrogen compounds, fertilisers, plastics and synthetic rubber in primary forms, compared with the decline in July last year.

The annual variation of the general index excluding Energy increased by five tenths, to 1.3%, standing three tenths 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,
            -2.1,
            -1.3,
            -0.4,
            0.0,
            1.0
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            8.0,
            6.9,
            5.6,
            2.9,
            1.6,
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            0.5,
            0.3,
            0.2,
            0.1,
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Evolution of industrial prices, combining domestic and foreign markets

The Industrial Price Index of the domestic and foreign market, which is obtained as an aggregation of the IPRI and the IPRIX, rose in terms of its annual rate by 1.5 points in July to -0.6%. Meanwhile, the annual variation of the general index without Energy, it increased by three tenths, to 1.1%.

Annual evolution of the IPRI+IPRIX

General index and general index without Energy. Percentage

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        "Sep-23",
        "Oct-23",
        "Nov-23",
        "Dec-23",
        "Jan-24",
        "Feb-24",
        "Mar-24",
        "Apr-24",
        "May-24",
        "Jun-24",
        "Jul-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,
            -6.2,
            -6.3,
            -5.1,
            -3.2,
            -2.1,
            -0.6
        ],
        [
            9.5,
            8.5,
            6.6,
            3.7,
            2.4,
            1.7,
            1.3,
            1.2,
            1.2,
            0.8,
            0.6,
            0.8,
            0.2,
            0.0,
            -0.1,
            0.2,
            0.5,
            0.8,
            1.1
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Monthly evolution of export prices

In July, industrial export prices recorded a monthly rate of 0.4%, as compared to the month of June.

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

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

Annual evolution of import prices

The Import Price Index (IPRIM) recorded an annual rate of 2.1% in July, two tenths higher than in June.

By economic use, the industrial sectors with a positive influence on the variation of the annual rate of the IPRIM included the following:

Intermediate goods, which increased its rate by nine tenths to -0.4%, as prices in the chemical industry rose, as opposed to the decline in July 2023.

On the other hand, among the sectors with a negative monthly contribution, worth noting were:

Energy, whose annual variation decreased by 1.1 points to 11.3%, as the prices of petroleum coking and refining and crude oil and natural gas extraction increased less than in the same month of the previous year.

The annual variation rate of the overall index excluding Energy increased four tenths, to 0.3%, which is 1.8 points below 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,
            -4.2,
            -2.5,
            -0.7,
            0.7,
            1.9,
            2.1
        ],
        [
            8.7,
            6.8,
            4.8,
            2.4,
            1.1,
            0.5,
            -0.6,
            -1.3,
            -1.5,
            -1.6,
            -1.3,
            -1.2,
            -2.2,
            -2.0,
            -1.8,
            -0.9,
            -0.4,
            -0.1,
            0.3
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Monthly evolution of import prices

In July, the monthly variation of the Import Price Index was 0.2%.

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

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

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

Data revisions and updates

The INE has updated the IPRIX and IPRIM data for the last three months, making the April 2024 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.