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Financial News: Spain Producer Prices Decline Most Since 2016

Spain Producer Prices Decline Most Since 2016

04/24/2020 - 08:14:00 (RTTNews)

(RTTNews) - Spain's producer prices declined at the fastest pace in nearly four years in March, data from the statistical office INE showed on Friday.

The producer prices index fell 5.0 percent year-on-year in March, following a 2.3 percent decline in February. This was the biggest fall since May 2016.

Meanwhile, excluding energy, producer price increased 0.2 percent in March, slower than 0.6 percent in the previous month.

Consumer goods prices advanced 2.3 percent and prices of capital goods gained 1.0 percent.

Prices for energy declined 15.9 percent annually in March and intermediate goods prices decreased 2.3 percent.

On a monthly basis, producer prices decreased 3.1 percent in March, following a 1.3 percent drop in the prior month.

Due to the emergency situation caused by coronavirus, or covid-19, many companies shut their operation and others operated less intensively. But March data collection was largely unaffected, the statistical office added.

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