Spanish producer price inflation hits record high

Spanish producer prices grew at the fastest pace since data began being collected in 1976, information from the statistical office INE showed on Wednesday.

Producer prices grew 33.1 per cent year-on-year in November, following October's 32-per-cent increase.

Excluding energy, producer price inflation advanced to 10.6 per cent, from 9.7 per cent in October.

Data showed that energy prices surged 88.3 per cent annually in November, the fastest on record. Intermediate goods prices were up 20.5 per cent, the strongest since January 1976.

At the same time, producer prices of capital goods and consumer goods moved up only 3.1 per cent and 4.5 per cent, respectively. On a monthly basis, producer prices gained 1.8 per cent, but slower than the 6.1-per-cent rise in October.