Producer prices in Spain increased for the first time in twenty one months in November amid a renewed increase in energy costs, provisional data from the statistical office INE showed on Thursday.
The producer price index posted an annual increase of 0.9 percent in November, reversing a 3.9 percent fall in October. Furthermore, this was the first increase since March 2023.
Within overall prices, the downward trend in energy prices stopped and rose 2.4 percent from last year, the highest level since February 2023.
This upward trend in energy prices was due to the increase in the prices of production, transportation, and distribution of electric energy and, to a lesser extent, oil refining, the group said.
Intermediate goods prices were 0.9 percent lower compared to last year. Meanwhile, consumer and capital goods prices rose by 0.5 percent and 1.9 percent, respectively.
On a monthly basis, producer prices climbed 2.7 percent, after a flat change in October.
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