Financial News: Spain Producer Prices Rise 0.9% In November

Spain Producer Prices Rise 0.9% In November

12/26/2024 - 03:34:00 (RTTNews)

(RTTNews) - Spain's producer prices increased for the first time in twenty-one months in November amid a renewed rise in energy costs, provisional data from the statistical office INE showed on Thursday.

The producer price index posted an annual increase of 0.9 percent in November, reversing a 3.9 percent fall in October. Further, this was the first increase since March 2023.

Within overall prices, the declining trend in energy prices ceased and rose 2.4 percent from last year, the highest since February 2023.

This upward trend in energy prices was a consequence of the rise in prices of production, transportation, and distribution of electrical energy and, to a lesser extent, of oil refining, the agency said.

Intermediate goods prices were 0.9 percent lower compared to last year. Meanwhile, prices of consumer and capital goods increased by 0.5 percent and 1.9 percent, respectively.

On a monthly basis, producer prices climbed 2.7 percent, following a flat change in October.

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