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June 2023 Published: 09/01/2024

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Material Price indices, along with the National Labour Force Index, constitute the components that intervene with the standard formulas for the revision of prices of contracts in Public Administrations.

The calculation of monthly Material Price Indices, whose formulas are included in the Royal Decree 1359/2011, whereby the list of basic materials and price revision formulas of a general nature for works contracts and manufacturing supply contracts for Public Administration weaponry and equipment are approved, which is the responsibility of the INE, with the exception of that referring to "plant" material, which is prepared by the Ministry of Agriculture, Food and the Environment.

The INE disseminates said Price Indices on its website, once they have been passed by the Executive Committee of the Government for Economic Issues, as proposed by the Higher Committee on the Prices of State Contracts (CSP), which is subordinate to the Ministry of Finance and Public Administration; and once they have been published in the Official State Gazette (BOE).