Spain's producer inflation rate stands at minus 1.3 percent last month
Date
9/25/2024 9:48:56 AM
(MENAFN) Spain's producer inflation rate stood at minus 1.3 percent in August, as reported by the country’s statistical office, Ine, on Wednesday. The decline in producer prices was mainly driven by a sharp drop in energy prices, which fell by 6 percent year-on-year. Intermediate goods also saw a decrease, with prices dropping by 1.2 percent over the same period, reflecting a broader downward trend in certain sectors of the economy.
Despite the overall decrease in producer inflation, certain sectors posted positive figures. Capital goods prices increased by 2.3 percent, and consumer goods saw a rise of 1.6 percent in August, indicating resilience in these categories. The divergent trends between energy and other goods highlight the sector-specific nature of price movements in Spain's economy during this period.
On a monthly basis, Spain’s producer inflation rose by 1.5 percent in August. Energy prices experienced a significant increase of 5.3 percent from July to August, marking a notable contrast to their year-on-year decline. Capital goods also recorded a modest monthly increase of 0.2 percent, while consumer goods and intermediate goods followed a similar pattern, with both categories posting a 0.2 percent and 0.4 percent increase, respectively.
These figures suggest that while Spain’s overall producer inflation has been negative on an annual basis, signaling deflationary pressures, some sectors are experiencing price increases month-on-month. The sharp rise in energy prices from July to August, in particular, could influence future inflation trends, depending on the stability of global energy markets and domestic economic conditions.
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