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Spain Producer Price Inflation Highest Since 1983

Spain producer price increased at the fastest pace in more than 37 years in June, data published by the statistical office INE showed on Monday.

Producer prices advanced 15.4 percent year-on-year in June, faster than the 15.2 percent increase seen in May. The latest annual inflation was the highest since October 1983.

Excluding energy, producer price growth accelerated to 7.6 percent from 7.1 percent in May.

Among components of the producer price index, energy posted the biggest annual growth of 35.2 percent, followed by a 13.7 percent rise in intermediate goods prices.

Consumer goods prices grew 4.4 percent and capital goods prices were up 2 percent.

On a monthly basis, producer price inflation rose to 2.2 percent from 1.6 percent in May.

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