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Spain Producer Price Inflation Strongest Since 1976

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Spain producer prices increased at the fastest pace since 1976 on surging energy prices in March, data released by the statistical office INE showed on Monday.

Producer price inflation advanced to 46.6 percent in March from 41.2 percent in the previous month. This was the fastest since the series began in January 1976.

Excluding energy, producer price inflation was 13.7 percent versus 12.3 percent in February. The core rate was the biggest since June 1984.

Among components of PPI, energy prices recorded a sharp 134.6 percent growth and intermediate goods prices posted a double-digit growth of 22.9 percent. Prices of consumer goods and capital goods were up 8.5 percent and 5.1 percent, respectively.

Month-on-month, producer prices gained 6.6 percent, following a 2.1 percent rise in February, data showed.

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