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Financial News: Spain Producer Price Inflation Highest Since January 1983

Spain Producer Price Inflation Highest Since January 1983

06/25/2021 - 07:02:00 (RTTNews)

(RTTNews) - Spain's producer prices rose grew at the fastest pace in more than thirt-eight years in May, data released by the statistical office INE showed on Friday.

Producer price inflation accelerated to 15.3 percent in May from 13.0 percent in April. This was the highest rate since January 1983.

Excluding energy, producer price inflation improved to 5.4 percent in April from 3.9 percent in the previous month.

Energy prices surged 37.6 percent annually. Prices of intermediate goods and non-durable consumer goods grew 12.8 percent and 4.1 percent, respectively.

On a monthly basis, producer prices gained 1.6 percent in May, following a 3.0 percent rise in the prior month.

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