Spain’s export prices rise by 1.0% in July’24
Spain’s Export Price Index (IPRIX) was 1.0 per cent in July 2024, up one point from June. This rise was influenced by positive trends across all industrial sectors.
Notably, the energy sector’s annual rate improved to -4.9 per cent, 6.5 points higher than that of the previous month, driven by higher electricity prices compared to the previous year.
Capital goods saw a variation of 1.3 per cent, which is six tenths higher than in June. This increase was primarily due to the prices in the manufacture of motor vehicles falling less than they did in the same month of 2023.
Excluding energy, the general IPRIX index increased by five tenths to 1.3 per cent, surpassing the overall IPRIX.
On the import side, the Import Price Index (IPRIM) registered an annual rate of 2.1 per cent in July, two tenths higher than June.
Intermediate goods saw a rate increase to -0.4 per cent, due to rising chemical industry prices.
However, the energy sector’s annual variation fell to 11.3 per cent, as prices for coke plants, oil refining, and crude oil extraction rose less than in the previous year.
The general IPRIM index, excluding energy, increased by four tenths to 0.3 per cent, remaining below the overall IPRIM. The monthly variation of the Import Price Index was 0.2 per cent in July.
Attribution: Spanish Statistical Office (INE) report
Subediting: M. S. Salama
