Spain's producer prices continued to decline in July due to lower energy costs, albeit at the slowest rate observed in sixteen months, according to provisional data released by the National Statistics Institute (INE) on Monday.
The producer price index recorded an annual decrease of 1.4% in July, following a 3.2% decline in June. This marked a continuation of the downtrend in producer prices that began in March 2023.
Energy prices, a significant component of the overall index, fell by 6.6% in July, compared to an 11.9% drop in the previous month. Prices for intermediate goods were 1.2% lower than those of the previous year. Conversely, consumer goods and capital goods saw price increases of 2.5% and 2.1%, respectively.
On a month-to-month basis, producer prices rose by 1.7%, following a 2.2% increase in June. This marks the third consecutive monthly rise in producer prices.
