Spain Producer Prices Change

Spain's industrial producer prices plunged by 8.2% year-on-year in February 2024, following a slightly revised 3.9% drop in the previous month. It was the sharpest decline in producer costs since last September, driven by a 24.2% plunge in energy prices (compared to -12.8% in January). The cost of intermediate goods also decreased (-5.2% compared to -5.6%), alongside a slowdown in inflation rates for both non-durable consumer goods (4.7% compared to 5.6%) and capital goods (2.5% compared to 2.7%). On the other hand, durable consumer goods inflation picked up slightly to 0.9% from 0.8%. On a monthly basis, producer prices plummeted by 2.3% in February, following a 0.2% increase in January.