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Financial News: Spain Producer Prices Continue To Fall

Spain Producer Prices Continue To Fall

05/24/2024 - 04:47:00 (RTTNews)

(RTTNews) - Producer prices in Spain continued their steep falling trend in April amid cheaper energy prices, provisional data from the statistical office INE showed on Friday.

The producer price index posted an annual decrease of 6.6 percent in April after an 8.2 percent decline a month ago. Producer prices have been falling since April 2023.

Within overall prices, energy logged a double-digit sharp drop of 20.5 percent. Intermediate goods prices were 4.0 percent lower compared to last year. Meanwhile, prices of consumer and capital goods increased 3.3 percent and 2.0 percent, respectively.

On a monthly basis, producer prices fell at a slower pace of 0.2 percent versus a 2.2 percent decrease in April.

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