Financial News: Spain Producer Price Inflation At 22-Month Low On

Spain Producer Price Inflation At 22-Month Low On Lower Energy Costs

02/24/2023 - 05:39:00 (RTTNews)

(RTTNews) - Spain's producer prices grew at the slowest pace in nearly two years in January amid a sharp slowdown in energy costs, the statistical office INE said Friday.

The Producer price index climbed 8.2 percent year-over-year in January, much slower than the 14.9 percent surge in the previous month.

Further, this was the slowest rate since March 2021, when prices had risen 6.4 percent.

Excluding energy, underlying producer prices rose 10.6 percent annually, following an 11.1 percent spike in December.

The annual price growth in energy eased considerably to 3.3 percent in January from 23.2 percent in the preceding month.

Prices for consumer goods alone grew 15.1 percent, and those for intermediate goods moved up 8.8 percent. There was a 5.0 percent rise in prices for capital goods in January compared to last year.

On a monthly basis, producer prices slid 2.0 percent from December, when they dropped by 1.6 percent. It was the fourth successive monthly decline.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

German GDP To Fall Slightly In Q1: Bundesbank (37 min(s), 16 sec(s) ago)
(RTTNews) - The German economy is likely to fall in the first quarter but the decline will be slow ...Full Story»

Major Central Banks Try To Stem Contagion After Credit Suisse Rescue (51 min(s), 16 sec(s) ago)
(RTTNews) - World's major central banks announced a joint effort to prevent the banking crisis ...Full Story»

UK House Prices Rise In March: Rightmove (01 hr(s), 06 min(s), 16 sec(s) ago)
(RTTNews) - After flattening in February, UK house prices increased in March due to a jump in the ...Full Story»

Eurozone Trade Gap Narrows In January (01 hr(s), 47 min(s), 16 sec(s) ago)
(RTTNews) - Euro area trade deficit narrowed at the start of the year as the pace of fall in impor ...Full Story»

Poland Industrial Output Contracts; Producer Price Inflation At 1-Year Low (02 hr(s), 21 min(s), 16 sec(s) ago)
(RTTNews) - Poland's industrial production declined for the first time in thirty-three months ...Full Story»

Taiwan Export Orders Continue To Fall In February (03 hr(s), 45 min(s), 16 sec(s) ago)
(RTTNews) - Taiwan's export orders continued to decline in February, data released by the Mini ...Full Story»

Germany Producer Price Inflation Eases To 15.8%, Lowest Since Sep 2021 (05 hr(s), 42 min(s), 16 sec(s) ago)
(RTTNews) - Germany's producer price inflation eased for the fifth straight month in February ...Full Story»

Malaysia Trade Surplus Shrinks To MYR 19.56 Bln (07 hr(s), 09 min(s), 16 sec(s) ago)
(RTTNews) - Malaysia's trade surplus decreased slightly in February, as imports grew faster th ...Full Story»