The industry suffers the highest price increases from its materials since 1976, of 31.9%

The industrial sector has had to endure in the month of October a price increase of the materials and services it needs to produce from 31.9%, the largest increase since 1976 in which the historical series of the National Institute of Statistics began
(INE).

The rise in the price of light has been the main responsible for this increase in costs, since it is at the end of October 87.3% more expensive than a year ago, which represents the greatest year-on-year increase of all
The series, as reflected in the Industrial Price Index published on Thursday by the Institute.

Specifically, the production, transport and distribution of electricity and, to a lesser extent, the oil refining, the production of gas and the distribution by pipe of gaseous fuels is neglected.

In fact, if the impact of energy is discounted, the annual rate of index variation is 9.7%, more than 22 points below the general, but still the highest since January 1985.

This is so because they also rise at the greatest rhythm since 76 the prices of intermediate goods – the products and materials that the industrial sector needs to elaborate their final goods – and that in October are 19% more expensive than a year ago.
Rise above all the manufacture of basic chemicals, nitrogen compounds, plastic fertilizers and synthetic rubber in primary forms;
as well as the production of precious metals and non-ferrous metals.

In monthly terms, industrial prices have risen 6.1% in October versus September, again the largest increase in a month since it starts the series.

Industrial prices have risen in all autonomous communities, although Principality of Asturias, Canaries and Balearic Islands leads increases (89.9%, 81.4% and 77.4%, respectively).

Catalonia, La Rioja and the Valencian Community are, on the other hand, the three regions with more moderate progress (17.6%, 12.7% and 16.9%).