Spain producers’ price index (PPI) expanded 0.1 percent in June on a month-on-month basis, a release from INE revealed. On a year-on-year term, Spain’s producer price index was 3.2 percent, which was two points below the previous month.
Spain’s PPI suffered since energy prices fell 7.5 points from the previous month. Similarly, oil refinery prices dropped from the previous year period while the increase in transport, production and distribution of electricity prices were lower than the preceding year.
Another factor is that intermediate foods also fell below the previous month. The release added that non-durable consumer goods were four tenths lower than May. This was attributed to the fall in vegetable and animal oils and fats manufacturing from the previous year month.
Higher prices of processing preservation of meat, as well as, elaboration of products were less than the previous year month.