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Financial News: Spain Producer Prices Fall At Slower Rate

Spain Producer Prices Fall At Slower Rate

08/26/2024 - 06:51:00 (RTTNews)

(RTTNews) - Spain's producer prices continued their falling trend in July amid cheaper energy prices, though at the slowest pace in sixteen months, provisional data from the statistical office INE showed on Monday.

The producer price index posted an annual decrease of 1.4 percent in July after a 3.2 percent decline in July. Producer prices have been falling since March 2023.

Within overall prices, energy logged a decline of 6.6 percent versus an 11.9 percent fall a month ago. Intermediate goods prices were 1.2 percent lower compared to last year. Meanwhile, prices of consumer and capital goods increased by 2.5 percent and 2.1 percent, respectively.

On a monthly basis, producer prices rose 1.7 percent versus a 2.2 percent gain in June. Further, this was the third consecutive increase.

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