FX.co ★ Spain's Producer Price Index Takes a Sharp Turn in November

The Spanish Producer Price Index (PPI) has taken a significant turn, retreating to -2.5% in November 2025 from 0.7% in October 2025, as revealed in the latest data set released on December 23, 2025. This year-over-year comparison indicates a marked shift in the cost trends of goods produced by the nation, contrasting sharply with the scenario a month prior.

October's 0.7% figure had shown a slight increase compared to the same month in the previous year, suggesting stable production costs at that time. However, November's fall to -2.5% signifies potential deflationary pressures within the economy or perhaps a response to external variables affecting production and pricing dynamics.

Such a downturn in the PPI may indicate a broader trend of declining production costs, perhaps driven by reductions in raw material prices or changes in demand affecting producers' pricing power. This steep drop raises questions about how the Spanish economy will adapt moving forward and whether this could herald further economic adjustments in the coming months.