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Financial News: Spain PPI Inflation Eases In April

Spain PPI Inflation Eases In April

05/25/2022 - 09:29:00 (RTTNews)

(RTTNews) - Spain's producer price inflation eased in April, after accelerating to a record high in March, data released by the statistical office INE showed on Wednesday.

Producer prices rose 45.0 percent year-on-year in April, slower than the previous month's 47.0 percent surge, which was the fastest rate of increase since the series began in January 1976.

Excluding energy, producer price inflation accelerated to 15.6 percent in April from 13.7 percent in March. Moreover, this was the highest rate of inflation since April 1980.

Among components, energy prices alone jumped 119 percent annually in April and prices for intermediate goods gained 25.6 percent. Prices of consumer goods and capital goods rose 10.1 percent and 5.6 percent, respectively.

On a monthly basis, producer prices rose 1.6 percent in April, much slower than the 6.7 percent rise in the preceding month.

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