Producer price inflation in Spain accelerated to 9.2% in July 2026 from 7% in June, largely driven by a sharp increase in energy prices, which climbed to 20.8% from 14.3%. This surge was mainly due to stronger rises in the prices of electricity generation, transmission and distribution, while gas-related prices declined after having increased in July 2025.
Additional upward pressure came from prices of intermediate goods (6.8% vs 6.6%), durable consumer goods (3.6% vs 3.4%) and capital goods (2.3% vs 2.5%). By contrast, costs eased for non-durable consumer goods (0.5% vs 0.9%), primarily reflecting lower prices for vegetable and animal oils and fats compared with a year earlier.
Excluding energy, producer price inflation stood at 3.5%, edging down from 3.6% in the previous month.
On a monthly basis, the producer price index (PPI) jumped 3% in July—its largest increase in four months—after remaining flat in June. The monthly rise was driven mainly by higher prices for electricity generation, transmission and distribution (16.6%) and for oil refining (5.3%).
