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Financial News: Spain Producer Prices Plummet 8.2%

Spain Producer Prices Plummet 8.2%

04/25/2024 - 05:10:00 (RTTNews)

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

The producer price index posted an annual decrease of 8.2 percent in March after an 8.5 percent decline a month ago. Producer prices have been falling since March 2023.

Within overall prices, energy logged a double-digit sharp drop of 24.6 percent. Intermediate goods prices were 4.9 percent lower compared to last year. Meanwhile, prices of consumer and capital goods increased 3.9 percent and 2.3 percent, respectively.

On a monthly basis, producer prices slid 2.2 percent versus a 2.6 percent decline in February.

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