Spain Producer Prices Decline Most Since 1975

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Spain’s producer prices declined at a record pace in May, data from the statistical office INE showed on Thursday.

The producer prices index fell 8.7 percent year-on-year in May, following an 8.4 percent decline in April. This was the slowest since the series began in January 1975.

Excluding energy, producer price decreased 0.9 percent in May, following a 0.5 percent fall in the previous month.

Prices for energy declined 24.7 percent annually in May and intermediate goods prices decreased 3.5 percent.

Meanwhile, consumer goods prices rose 0.9 percent and prices of capital goods increased 0.8 percent.

On a monthly basis, producer prices decreased 0.2 percent in May, following a 3.0 percent decline in the prior month.

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