Financial News: Spain Producer Prices Fall At Faster Rate

Spain Producer Prices Fall At Faster Rate

10/25/2024 - 07:38:00 (RTTNews)

(RTTNews) - Spain's producer prices declined at the fastest pace in five months in September amid cheaper energy prices, provisional data from the statistical office INE showed on Friday.

The producer price index posted an annual decrease of 5.2 percent in September after a 1.4 percent decline in August. Producer prices have been falling since March 2023.

Within overall prices, energy logged a sharp fall of 16.8 percent versus a 6.2 percent fall a month ago. Intermediate goods prices were 1.4 percent lower compared to last year. Meanwhile, prices of consumer and capital goods increased by 1.5 percent and 2.3 percent, respectively.

On a monthly basis, producer prices declined 2.3 percent, reversing a 1.4 percent increase in August. Further, this was the first decrease in five months.

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