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Financial News: Spain PPI Inflation Eases Further In July

Spain PPI Inflation Eases Further In July

08/25/2022 - 06:26:00 (RTTNews)

(RTTNews) - Spain's producer price inflation eased for the fourth straight month in July, though it remained strong overall, data released by the statistical office INE showed on Thursday.

Producer prices logged a double-digit annual growth of 40.4 percent in July, slower than the 43.1 percent rise in June.

Excluding energy, producer price inflation softened slightly to 14.8 percent from 15.3 percent in June.

Among components of the producer price index, energy prices registered the biggest annual increase of 100.6 percent in July. This was followed by a 22.1 percent rise in intermediate goods prices.

Prices of consumer goods were 11.3 percent higher compared to last year and capital goods prices grew 5.8 percent.

Month-on-month, producer prices remained flat in July, after rising 1.9 percent in the preceding month.

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