Madrid (EFE).- Industrial prices in Spain fell by 1% in March, nine points below the rate registered in February (8%), mainly due to cheaper electricity production, transportation and distribution .
According to data from the industrial price index (IPRI) published this Tuesday by the National Statistics Institute (INE), industrial inflation is in negative territory for the first time since December 2020 and 48 percentage points below the maximum marked in March.
The moderation in March is due to the drop in the price of energy, 15.9%, almost 21 points below that of February, caused mainly by the drop in the prices of the production, transmission and distribution of electrical energy , and to a lesser extent, oil refining and gas production, as well as the pipeline distribution of gaseous fuels.
Drop in prices of basic chemicals
Intermediate goods also influence the moderation of the IPRI, with a rate 3 points lower, up to 3.5%, due to the drop in the prices of the manufacture of basic chemical products, nitrogenous compounds, fertilizers, plastics and synthetic rubber in primary forms and at a lower rise than in the manufacture of basic iron, steel and ferroalloy products.
Another of the sectors with a negative influence is that of non-durable consumer goods, with an annual rate of 13.2%, almost two and a half points below that of February, as a result of lower prices in the manufacture of oils and fats vegetables and animals, which increased in March of last year.
In the food industry, prices rose by 16.1%, and especially the manufacture of dairy products (24.4%) and the processing and preservation of meat and production of meat products (17.2%).
The annual variation rate of the general index excluding energy moderated by more than two points, to 7.3%, and was more than eight points above that of the general IPRI.
Industrial inflation falls by 2.2% in the monthly rate
Industrial prices in March fell by 2.2% compared to February, and the industrial sectors with a negative impact are energy, which fell by 7.4%, and intermediate goods, which fell by 0.2%.
In turn, among the industrial sectors that have a positive monthly impact on the index, non-durable consumer goods stand out, with a monthly rate of 0.8%.
The annual rate of the IPRI decreased in March in all the autonomous communities.
The greatest decreases were for the Canary Islands, the Balearic Islands and the Region of Murcia, while La Rioja, Catalonia and the Valencian Community were the regions where the annual rate decreased the least.