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

Main results

The annual rate of the IPRIX stood at 0.9%, one tenth lower than in July.
The annual variation of the IPRIM was 1.0%, one point lower than in the previous month.

More information

Annual evolution of export prices

The annual rate of the Export Price Index (IPRIX) in August was 0.9%, one tenth below that recorded in July.

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:

Non-durable consumer goods, with an annual rate of 3.2%, eight tenths below that of July, due to the decrease in Manufacture of vegetable and animal oils and fats prices, which increased in the same month of 2023.

On the other hand, worth noting amongst the sectors with a positive monthly effect was:

Energy, whose variation increased by two tenths of a point to -4.7%, due to the increase in the prices of Electricity production, transport and distribution, which was higher than in August of the previous year.

It is noteworthy, although in the opposite direction, the decrease in Oil refinery prices, which were up on the same month last year.

The annual variation of the general index excluding Energy decreased by two tenths of a percentage point to 1.2% and was three tenths of a percentage point higher than that of the general IPRIX.

Annual evolution of the IPRIX

General index and general index without Energy. Percentage

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        "May-23",
        "Jun-23",
        "Jul-23",
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        "Sep-23",
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        "Aug-24"
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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,
            0.9
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        [
            8.0,
            6.9,
            5.6,
            2.9,
            1.6,
            1.0,
            0.5,
            0.5,
            0.3,
            0.2,
            0.1,
            0.5,
            0.1,
            -0.1,
            -0.3,
            0.4,
            0.8,
            0.8,
            1.4,
            1.2
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Evolution of industrial prices, combining domestic and foreign markets

The Industrial Price Index for the domestic and foreign markets, which is obtained as an aggregation of the IPRI and the IPRIX, increased its annual rate by two tenths of a percentage point in August, to -0.5%. Meanwhile, the annual variation of the general index without energy decreased by three tenths to 0.8%.

Annual evolution of the IPRI+IPRIX

General index and general index without Energy. Percentage

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        "Apr-23",
        "May-23",
        "Jun-23",
        "Jul-23",
        "Aug-23",
        "Sep-23",
        "Oct-23",
        "Nov-23",
        "Dec-23",
        "Jan-24",
        "Feb-24",
        "Mar-24",
        "Apr-24",
        "May-24",
        "Jun-24",
        "Jul-24",
        "Aug-24"
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    "values": [
        [
            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,
            -0.7,
            -0.5
        ],
        [
            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,
            0.8
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Monthly evolution of export prices

In August, industrial export prices recorded a monthly rate of 0.3% as compared with July.

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

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

Annual evolution of import prices

The Import Price Index (IPRIM) recorded an annual rate of 1.0% in August, one percentage point lower than in July.

By economic destination, all industrial sectors had a negative influence on the variation of the annual rate of the IPRIM. Among these, worth noting were:

Energy, whose rate decreased by 6.5 points to 4.5%, due to lower prices for Manufacture of coke and refined petroleum products and stable prices for Extraction of crude petroleum and natural gas, compared to the increase in August last year.
Non-durable consumer goods, with an increase of 0.1%, one tenth of a point lower than in July, as a result of the fact that prices of Manufacture of wearing apparel decreased, while they increased in the same month of 2023.

The annual variation rate of the general index without Energy decreased one tenth to 0.2%, which was eight tenths of a percentage point below that 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,
            2.0,
            1.0
        ],
        [
            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,
            0.2
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Monthly evolution of import prices

In August, the monthly variation of the Import Price Index was -0.1%.

A more detailed analysis shows the activities that most affected the monthly rate of the IPRI in August.

Activities with the greatest positive impact on the monthly rate of the IPRIM. August 2024

Activities with the greatest negative impact on the monthly rate of the IPRIM. August 2024

Data revisions and updates

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