2021.10.2610:18:00UTC+00Spain Producer Price Inflation Fastest Since 1977

Spain producer prices grew at the fastest pace since 1977 in September on higher energy prices, data released by the statistical office INE showed on Tuesday.

Producer prices grew 23.6 percent year-on-year in September, after climbing 17.9 percent in August. This was the highest growth since December 1977.

Excluding energy, producer price inflation accelerated to 8.8 percent, the biggest since January 1985, from 8.4 percent in August.

On a monthly basis, producer prices gained 5.2 percent after rising 1.8 percent in the previous month.

Among components of PPI, energy prices showed the biggest annual growth of 59.8 percent. Producer prices of intermediate goods were up 16.8 percent. Consumer goods and capital goods prices gained 4 percent and 2.4 percent, respectively.