In November, Spain experienced an increase in producer prices for the first time in twenty-one months, driven by a resurgence in energy costs, according to provisional data released by the National Statistics Institute (INE) on Thursday.
The producer price index showed an annual rise of 0.9 percent in November, marking a reversal from a 3.9 percent decline in October. This represents the first increase since March 2023.
Energy prices, which had been on a downward trend, reversed course and rose by 2.4 percent compared to the previous year, reaching their highest level since February 2023. This increase was largely attributed to higher costs associated with the production, transportation, and distribution of electricity, as well as, to a lesser extent, oil refining, as reported by the agency.
Prices for intermediate goods saw a decrease of 0.9 percent compared to the previous year. In contrast, prices for consumer goods and capital goods increased by 0.5 percent and 1.9 percent, respectively.
On a month-to-month basis, producer prices increased by 2.7 percent, following a period of stability in October.
