FX.co ★ Spain Producer Inflation Hits 2022-Peak

Spain’s producer price inflation surged to 8.3% year-on-year in April 2026, the highest rate since December 2022, up from a downwardly revised 3.1% in March. The sharp acceleration was driven primarily by energy prices, which jumped 22.3% (vs 7.1% in March), largely reflecting higher oil refining costs. This increase appears to have spilled over into other categories, including intermediate goods (3.8% vs 0.8%), capital goods (2.0% vs 1.8%), and consumer goods (1.6% vs 1.2%), with gains recorded in both durable (2.9% vs 2.2%) and non-durable consumer goods (1.5% vs 1.2%). Excluding energy, producer prices rose 2.6% year-on-year, after a 1.2% increase in March. On a monthly basis, the producer price index climbed 1.7% in April, slowing from a revised 6.2% surge in the previous month.