25.10.202308:33:00UTC+00Spain Producer Prices Continue To Fall Sharply

Spain's producer prices declined for the seventh straight consecutive month in September, and at a steeper rate amid cheaper energy prices, the statistical office INE said Wednesday.

The producer price index fell 8.6 percent year-over-year in September, following a 9.9 percent decline in August. Prices have been falling since March.

Excluding energy, producer price inflation rose somewhat to 1.8 percent from 1.7 percent.

On a monthly basis, producer prices moved up 1.4 percent following August's 1.3 percent rebound.

The annual fall in overall producer prices was driven by the sharp 25.7 percent decline in energy prices. Intermediate goods prices also showed a fall of 5.3 percent.

On the other hand, prices for capital goods and consumer goods grew by 2.4 percent and 9.3 percent, respectively, in September from last year.