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  • Writer's pictureanalysiswatch

Title : Spanish industrial prices jump 42% lifted by energy costs

Sep 26, 2022 04:01AM ET


Spain's National Statistics Institute (INE) said Monday that Spanish industrial prices accelerated 41.8% in the 12 months to August, ending four months of moderate rises.

Industrial prices rose 2.8% in August from the previous month, driven by energy prices, mainly gas and electricity, INE said. It revised July's year-on-year figure up to 40.5% from 40.4% previously.

The 12-month increase in industrial prices reached an all-time high of 47% in the period through March.

Excluding energy, which was more than twice the price of a year ago, annual industrial price inflation stood at 14.4% in August, up from 14.6% the previous month, according to INE.

Companies tend to pass on industrial price rises to customers, ultimately fueling inflation, which in Spain, as in many other countries, is running at its fastest pace in three decades.

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