The Export Price Index (IPRIX) and the Import Price Index (IPRIM) are indicators that analyse the evolution of the prices of industrial products in Spanish foreign trade. When comparing the data of December 2024 with those of the same month of the previous year, a significant upward trend is observed in both indices.
Index of Prices of Export (IPRIX)
In December 2024, the annual rate of the IPRIX stood at 2.0%, stable compared with November 2024. This figure contrasts sharply with that recorded in December 2023, when the annual rate was -1.2%, indicating a recovery of 3.2 percentage points in one year.
This increase is mainly due to the performance of the energy sector, which experienced an annual rate of 16.8% in December 2024, 2.8 points higher than in the previous month and the highest since September 2022. This increase is attributed to the fact that oil refining prices decreased less than in December 2023.
Index of Prices of Import (IPRIM)
The IPRIM recorded an annual rate of 2.1% in December 2024, an increase of 1.3 percentage points compared with November 2024. Compared with December 2023, when the annual rate was -5.2%, this represents a significant increase of 7.3 percentage points in one year.
As in the IPRIX, the energy sector had a prominent influence on this change, with an annual rate of 4.3% in December 2024, 4.1 percentage points higher than in November. This performance is due to higher prices in crude oil and natural gas extraction, as well as in petroleum coking and refining, which had declined in December 2023.