Spain producer prices declined at the fastest pace on record in August driven by cheaper energy prices, the statistical office INE said on Monday.
Producer prices registered an annual decline of 10.0 percent in August after an 8.6 percent decrease in July. This was the sixth consecutive fall and also marked the biggest fall since records began in 1976.
Excluding energy, producer price inflation slowed marginally to 1.7 percent in August from 1.8 percent in the previous month.
However, producer prices posted a monthly growth of 1.2 percent, reversing July's 0.2 percent drop.
The annual decline was driven by the 29.3 percent fall in energy prices and a 5.8 percent drop in intermediate goods prices. On the other hand, prices of consumer goods and capital goods were up 9.8 percent and 2.4 percent, respectively.
