Export Price Index (IPRIX) and Import Price Index (IPRIM) of Industrial Products. Base 2021

The annual rate of the Export Price Index (IPRIX) in the month of May was 4.1%, nine tenths above that registered in April and the highest since February 2023.

Among the industrial sectors with a positive influence on the evolution of the annual rate of the IPRIX by economic use of the goods worth noting are:

• Intermediate goods, with an annual rate of 5.2%, 1.6 points higher than in May, and the highest since February 2023. The behaviour is primarily due to the increases in the prices of Manufacture of basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms and, to a lesser extent, of Manufacture of precious and other non-ferrous metals, which decreased in May 2025.
• Energy, which had a variation of 44.0%, the highest since September 2022, was more than 8.9 points higher than that of the previous month. This increase was due to the rise in prices of Production, transport and distribution of electrical energy, in contrast to the drop in the same month last year.

In this sector should also mention, albeit in the opposite direction, the fall in Oil refining prices, which was greater than in May of last year.

The annual variation of the general index excluding Energy increased by five tenths, to 2.1%, standing 2.0 points below that of the general IPRIX. 

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 May to 8.4%. This is the highest rate recorded since December 2022. As for the annual variation of the general index without Energy, it increased by six tenths, to 2.9%.

The Import Price Index (IPRIM) registered an annual rate of 6.1% in May, an increase of three tenths from that of April. This is the highest rate recorded since February 2023.

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, whose annual variation of 5.6%, 2.2 points higher than in April, was caused by price increases in the Chemical industry, in contrast to the stability in May of the previous year, and of the Metallurgy; manufacturing of iron, steel and ferro-alloy products, which decreased in the same month of 2025.

Meanwhile, standing out among the industrial sectors that had a negative influence on the evolution of the rate was:

• Energy, which saw its annual rate decrease by 1.6 points to 21.4%. This behaviour was a consequence of the decline in the prices of Extraction of crude petroleum and natural gas, which was greater than in May 2025, and to a lesser extent, of the Manufacture of coke and refined petroleum products, which rose in May of the previous year.

The annual variation rate of the overall index excluding Energy increased by nine tenths, to 2.3%, which is 3.8 points below the rate of the general IPRIM.

In May, the monthly variation of the Import Price Index was -0.4%.

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