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Financial News: Spain Producer Price Inflation At Record High

Spain Producer Price Inflation At Record High

12/22/2021 - 06:01:00 (RTTNews)

(RTTNews) - Spain producer prices grew at the fastest pace since the series began in 1976, data from the statistical office INE showed on Wednesday. Producer prices grew 33.1 percent year-on-year in November, following October's 32 percent increase.

Excluding energy, producer price inflation advanced to 10.6 percent from 9.7 percent in October. Data showed that energy prices surged 88.3 percent annually in November, the fastest on record and intermediate goods prices were up 20.5 percent, the strongest since January 1976.

At the same time, producer prices of capital goods and consumer goods moved up only 3.1 percent and 4.5 percent, respectively.

On a monthly basis, producer prices gained 1.8 percent, but slower than the 6.1 percent rise in October.

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