Press Release: Industrial Price Index. 2021 Baseline. May 2026. Provisional data.

Main results

The annual variation of the Industrial Price Index increased by 2.0 points in May to 10.5%.
The monthly rate of industrial prices was 1.0%.

More information

Tables annex (includes information from the Autonomous Communities)
Detailed monthly results
Annual averages

The annual rate of the general Industrial Price Index (IPRI) was 10.5% in May, 2.0 points higher than that recorded in April and the highest since December 2022.

By the economic use of the goods, among the industrial sectors that had a notably positive effect on the evolution of the annual rate of the General IPRI were:

Energy, which displayed a rate of 28.2%, the highest since November 2022 and 5.2 points above the figure in April. This evolution was caused by the increase in prices for the Production, transport and distribution of electrical energy and, to a lesser extent, Gas production; pipeline distribution of gaseous fuels, which fell in May 2025.

We should also mention, albeit in the opposite direction, the fall in Oil refining prices, which was greater than in the same month of 2025.

Intermediate goods, whose annual variation rose by 2.0 points to 6.1% due to the higher prices for the Manufacture of basic chemicals, nitrogen compounds, fertilisers, plastics and synthetic rubber in primary forms, compared to the fall in May last year.

The annual variation rate of the general index excluding Energy increased by eight tenths to 3.5%, lying 7.0 points below that of the general IPRI.

Annual evolution of the IPRI

General index and general index without Energy. Percentage

{
    "mode": "chart",
    "type": "lineasprensa",
    "with": "170mm",
    "height": "100mm",
    "legend": true,
    "valueAxis": false,
    "tags": true,
    "series": [
        {
            "label": "General"
        },
        {
            "label": "General excluding Energy"
        }
    ],
    "ticks": [
        "Jan-25",
        "Feb-25",
        "Mar-25",
        "Apr-25",
        "May-25",
        "Jun-25",
        "Jul-25",
        "Aug-25",
        "Sep-25",
        "Oct-25",
        "Nov-25",
        "Dec-25",
        "Jan-26",
        "Feb-26",
        "Mar-26",
        "Apr-26",
        "May-26"
    ],
    "values": [
        [
            "2.6",
            "6.7",
            "4.6",
            "1.6",
            "-0.1",
            "1.0",
            "0.4",
            "-1.6",
            "0.2",
            "0.8",
            "-2.5",
            "-3.0",
            "-2.8",
            "-6.9",
            "3.1",
            "8.5",
            "10.5"
        ],
        [
            "-0.2",
            "0.0",
            "-0.1",
            "-0.1",
            "-0.4",
            "-0.7",
            "-0.5",
            "-0.3",
            "-0.1",
            "-0.1",
            "0.4",
            "0.8",
            "0.9",
            "0.9",
            "1.1",
            "2.7",
            "3.5"
        ]
    ],
    "ratioMargen": 0.15,
    "angleTick": "-90",
    "angleTag": "0",
    "fillToZero": true,
    "colors": [
        "#457E76",
    "#A45C0A",
    "#0071AD",
    "#756F0F",
    "#C33C9D",
    "#677746"
    ]
}

Monthly evolution of industrial prices

In May, the monthly variation rate of the general IPRI was 1.0%.

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

Activities with the greatest positive impact on the monthly rate of the IPRI. May 2026

Activities with the greatest negative impact on the monthly rate of the IPRI. May 2026

Results by Autonomous Communities. Annual variation rates

The IPRI recorded positive annual variations in all the autonomous communities in May.

The highest rates were recorded in Andalucía (22.5%), Canarias (17.2%) and Región de Murcia (15.9%).

In contrast, Extremadura (3.4%), Comunidad Foral de Navarra (3.5%) and Aragón (3.8%) registered the lowest increases.

Annual variation rates of the IPRI by Autonomous Community. May 2026

Percentage

{
    "mode": "chart",
    "type": "barrashorizontalesprensa",
    "width": "170mm",
    "height": "130mm",
    "legend": false,
    "valueAxis": false,
    "tags": true,
    "series": [
        {
            "label": "Annual variation (%)"
        }
    ],
    "ticks": [
        "Extremadura",
        "Navarra, Comunidad Foral de",
        "Aragón",
        "Castilla y León",
        "La Rioja",
        "Cantabria",
        "Cataluña",
        "Comunitat Valenciana",
        "Madrid, Comunidad de",
        "Galicia",
        "NATIONAL",
        "Castilla-La Mancha",
        "País Vasco",
        "Balears, IIles",
        "Asturias, Principado de",
        "Murcia, Región de",
        "Canarias",
        "Andalucía"
    ],
    "values": [
        [
            "3.4",
            "3.5",
            "3.8",
            "4.8",
            "5.3",
            "5.7",
            "7.2",
            "8.2",
            "8.5",
            "9.2",
            "10.5",
            "12.7",
            "14.3",
            "14.4",
            "15.0",
            "15.9",
            "17.2",
            "22.5"
        ]
    ],
    "ratioMargen": 0.1,
    "angleTick": "0",
    "angleTag": "0",
    "fillToZero": true,
    "colors": [
        "#457E76",
        null
    ],
    "config": {
        "marcaTick": {
            "color": "#9e1834",
            "value": "NATIONAL"
        }
    }
}

Revisiones y actualización de datos

The INE has today updated the IPRI data for the last three months, making the February 2026 data final. All the results of this operation are available at INEBase.

In accordance with the Commission's Delegated Regulation (EU) 2023/137, the INE has begun to work on incorporating the new National Classification of Economic Activities CNAE-2025 in all its statistical operations.

In the case of the IPRI, the first publication of results with CNAE-2025 will take place in February 2028.

Methodological note

The Industrial Price Index (IPRI) is a short-term indicator that measures the monthly evolution of the prices of industrial products manufactured and sold in the domestic market, in the first step of their commercialization, that is, the sales prices at the exit of factory, excluding transportation and marketing costs and VAT invoiced.

Type of survey:: continuous monthly survey.
Base year:: 2021.
Reference period of the weightings:: the year preceding the current year.
Population scope:: industrial establishments.
Sample size:: 9,200 industrial establishments and 1,400 items
Number of observations:: approximately 29,000 monthly prices.
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 methodology 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.