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Industrial prices sink 8.7% in May, the biggest drop in the series

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The industrial prices 8.7% sank in May, compared to the same month of 2019, due to the lower cost of meat products, thus marking the steepest decline since series start in 1975. This drop exceeds the decline recorded in April, which had already been a record.

This follows from Industrial Price Index (IPRI) published this Thursday by the National Institute of Statistics (INE). Specifically, points out this organism, the fall of May is three tenths greater than that of April, which was 8.4%.

The sector that has suffered the most is non-durable consumer goods, which decreased its rate by eight tenths, down to 0.9%, due to the lowering of the prices of Processing and preserving of meat and elaboration of meat products, which rose in May 2019. The decline experienced by the Intermediate goods sector has also been decisive, the rate of which has fallen two tenths and stood at -3.5%, the lowest since November 2009.

According to the INE, the evolution of industrial prices also highlights the decrease in the prices of the Manufacture of basic iron, steel and ferroalloy products, higher this month than last year, and the Manufacture of basic chemical products, nitrogenous compounds , fertilizers, plastics and synthetic rubber in primary forms, which rose in 2019.

The annual variation rate of the general index without Energy, includes Servimedia, has decreased four tenths, down to -0.9%, the lowest since May 2016, standing almost eight points above the general IPRI.

If we look at the data by autonomous community, we can see that the annual rate of industrial prices it has fallen in nine of them, while it has increased in the remaining eight. In detail, the greatest decreases have occurred in the Region of Murcia, Cantabria and Castilla-La Mancha, whose rates have dropped 2.7, 2.4 and 1.8 points, respectively.

For their part, the Canary Islands, the Principality of Asturias and the Balearic Islands are the communities where the annual rate has increased the most, with increases of 2.7, 2.4 and 2.4 points, respectively.

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