FX.co ★ Spain Producer Prices Plummet 8.2%

Producer costs in Spain continued to sharply decline in March, mainly due to the drop in energy prices, as per the data revealed by the INE (National Institute of Statistics) on Thursday.

The producer price index noted an annual dip of 8.2 percent in March, following an 8.5 percent drop in the previous month. This fall in producer prices has been a consistent trend since March 2023.

In a breakdown of the overall prices, energy observed a substantial drop of 24.6 percent. The prices of intermediate goods were also 4.9 percent lower compared to the same period last year. On the other hand, the prices of consumer goods and capital goods saw a rise of 3.9 percent and 2.3 percent, respectively.

On a month-to-month basis, the producer prices witnessed a slide of 2.2 percent, against a 2.6 percent dip in February.