26.12.202308:21:00UTC+00Spain Producer Prices Continue To Fall Sharply

Spain's producer prices declined for the ninth successive month in November amid cheaper energy costs, the statistical office INE said Tuesday.

The producer price index fell 7.4 percent year-over-year in November, following a 7.7 percent decline in October. Prices have been falling since March.

Excluding energy, producer price inflation moderated to 0.9 percent from 1.3 percent.

On a monthly basis, producer prices declined 2.0 percent in November, which was worse than the 1.4 percent decline seen in October.

The annual fall in overall producer prices was driven by the sharp 23.0 percent decline in energy prices. Intermediate goods prices also showed a fall of 5.5 percent.

Meanwhile, prices for capital goods and consumer goods grew by 2.5 percent and 7.2 percent, respectively, in November from last year.