FX.co ★ Spain Producer Inflation Slows in March

In March 2025, Spain experienced a moderation in producer price inflation, which decreased to 4.9% from a two-year peak of 6.7% recorded in February. This decline was primarily attributed to a slowdown in energy costs, which fell to 16.8% from 22.4% the previous month. Additionally, prices for consumer goods continued to decline, dropping by 1.6% compared to a 1.3% decrease previously. Among these, non-durable goods saw a price reduction of 1.8%, a decline from the 1.4% decrease in February, largely due to lower costs for vegetable and animal oils and fats. When energy prices are excluded from the calculation, producer prices saw a slight decrease of 0.1%, following a period of stability the month before. Month-over-month, producer prices fell by 3.9%.