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

Main Results

The annual rate of the IPRIX stood at 2.0% in December, the same recorded for the month of November.
The annual variation of the IPRIM was 2.1%, 1.3 points higher than in the previous month.

More information

Annual evolution of export prices

The annual rate for the Export Price Index (IPRIX) in December was 2.0%, the same recorded for the month of November.

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:

Energy, with an 16.8% annual rate, 2.8 points above the previous month, the highest since September 2022. The performance was consequent to a lower drop in Refined Oil prices than in December 2023.

On the other hand, amongst the industrial sectors with a negative influence, worth noting are:

Non-durable consumer goods, whose 1.2% variation, eight tenths below that of November, was due to the decline in Manufacture of vegetable and animal oils and fats prices, which increased in the same month of 2023.

The annual variation of the general index excluding Energy decreased by one tenth, to 1.0%, standing nearly one point below that of the general IPRIX.

Annual evolution of the IPRIX

General index and general index without Energy. Percentage

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        "Jan-23",
        "Feb-23",
        "Mar-23",
        "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",
        "Sep-24",
        "Oct-24",
        "Nov-24",
        "Dec-24"
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    "values": [
        [
            "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",
            "0.9",
            "0.8",
            "-0.5",
            "0.1",
            "2.0",
            "2.0"
        ],
        [
            "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",
            "1.3",
            "1.0",
            "0.7",
            "0.9",
            "1.1",
            "1.0"
        ]
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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 eight tenths of a percentage point in December, to 2.2%. As for the annual variation of the general index without Energy, it decreased by two tenths, to 0.3%.

Annual evolution of the IPRI+IPRIX

General index and general index without Energy. Percentage

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        "Jan-23",
        "Feb-23",
        "Mar-23",
        "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",
        "Sep-24",
        "Oct-24",
        "Nov-24",
        "Dec-24"
    ],
    "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",
            "-0.6",
            "-3.6",
            "-2.5",
            "1.4",
            "2.2"
        ],
        [
            "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",
            "0.5",
            "0.6",
            "0.5",
            "0.3"
        ]
    ],
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Monthly evolution of export prices

In December, industrial export prices recorded a monthly rate of 0.2%, as compared to the month of November.

A more detailed analysis shows the activities that most affected the monthly IPRIX rate in the month of December.

Activities with the greatest positive impact on the monthly rate of the IPRIX. December 2024

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

Annual evolution of import prices

The Import Price Index (IPRIM) recorded an annual variation of 2.1% in December, 1.3 points higher than in November.

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

Energy, which had an annual variation of 4.3%, 4.1 above that of November, resulting from the increased prices in Extraction of crude petroleum and natural gas and Coke plants and oil refining, which declined in the same month in 2023.
Intermediate goods, whose rate increased by 1.1 points and stood at 2.1%, due to rising prices in the chemical industry, as opposed to the decline in December 2023.

The annual variation rate of the overall index excluding Energy increased 0.7 points to 1.6%, which is 0.5 points below the rate of the general IPRIM.

Annual evolution of the IPRIM

General index and general index without Energy. Percentage

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        "Jan-23",
        "Feb-23",
        "Mar-23",
        "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",
        "Sep-24",
        "Oct-24",
        "Nov-24",
        "Dec-24"
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    "values": [
        [
            "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",
            "-1.0",
            "-0.1",
            "0.8",
            "2.1"
        ],
        [
            "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",
            "-0.2",
            "0.2",
            "0.9",
            "1.6"
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Monthly evolution of import prices

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

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

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

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

Data revisions and updates

The INE has updated the IPRIX and IPRIM data for the last three months, making it definitive for September 2024. All the results of this operation are available at 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.