The industrial manufacturing price of motor vehicles in Spain has increased by 6.3% between January and November of this year, according to the latest data provided by the National Institute of Statistics (INE). Likewise, in November 2022 the industrial price of motor vehicle manufacturing was 6% higher in year-on-year terms, while in relation to October it rose 0.3%.
On the other hand, the industrial price of the manufacture of bodies for motor vehicles, trailers and semi-trailers has accumulated a rise of 8% until November, while in November the increase in relation to the same month of 2021 has been 7 ,eight%. Also, the monthly growth compared to October was 0.7%.
Meanwhile, industrial prices for the manufacture of components, parts and accessories for motor vehicles have accumulated a rise of 3.1% up to November of this year, while the increase in the penultimate month of 2022 in relation to a year earlier was also stands at 3.1%. However, these prices have stagnated in the month-on-month comparison.
In general, industrial prices have moderated their interannual growth in November, up to 20.7%, due to lower energy costs and have fallen by 2.2% in relation to the previous month. With the year-on-year rise in November, almost 4.5 points lower than that experienced in October, inflation in the industrial sector has chained 23 consecutive months of positive rates.
The Industrial Price Index (IPRI) offered by the INE is a short-term indicator that measures the monthly evolution of the prices of industrial products manufactured and sold in the internal market, in the first step of their commercialization, that is, the prices of ex-factory sale, excluding transport and marketing costs and invoiced VAT.