Spanish Sept industrial prices up 35.6% on year, slowest since Dec
3:51 am Tuesday, October 25th, 2022
MADRID (Reuters) – Spanish industrial production prices rose 35.6% in the 12 months through September, down from a 42.9% increase in the year through August, the National Statistics Institute (INE) said on Tuesday.
The industrial 12-month production price increase in September was the slowest since December 2021, INE’s data showed. The increase had peaked at an all-time record of 47% in the period through March as energy prices skyrocketed.
INE revised the year-on-year August number to 42.9% from a previous 41.8%. Industrial prices were unchanged in September compared with August, INE said.
Excluding energy prices, annual industrial price inflation stood at 14% in September, down from 14.4% a month earlier, INE said.
Companies tend to pass on industrial price rises to customers, ultimately fuelling inflation, which in Spain is running at its fastest pace in three decades.
(Reporting by Joao Manuel Mauricio in Gdansk, editing by Inti Landauro)
