Spain’s producer prices rose at the fastest pace since late 2022 in April, driven by a sharp increase in energy costs, the statistical office INE said on Tuesday.
Producer prices increased 8.3% year-on-year in April, marking the strongest rise since December 2022, after a 3.1% increase in March.
The surge was largely driven by a 22.3% jump in energy prices. Prices for intermediate goods and capital goods rose more moderately, by 3.8% and 2.0% respectively. Consumer goods prices increased just 1.6%.
On a monthly basis, however, producer price growth slowed sharply to 1.7% in April from 6.2% in March.
