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Spain Producer Prices Decline At Slower Pace

By Renju Jaya   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Spain's producer prices continued to decline in January but the pace of decrease slowed notably, data released by the statistical office INE showed on Monday.

Producer prices posted an annual decrease of 3.8 percent after falling 6.3 percent in December.

Producer prices have been falling since March 2023. However, the current 3.8 percent drop was the slowest in the current sequence of decline.

Excluding energy, producer price inflation softened to 0.2 percent from 1.1 percent in the previous month.

Within the producer price index, consumer goods prices and capital goods prices advanced 5.4 percent and 2.7 percent, respectively.

Offsetting these gains, producer prices of intermediate goods slid 5.7 percent and energy prices plunged 12.6 percent.

Month-on-month, producer prices gained 0.2 percent, in contrast to the 0.3 percent fall in December.

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