Spanish producer price inflation logs strongest pace since 1976

Spanish 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 (PPI) advanced to 46.6% in March, from 41.2% in the previous month.

This was the fastest since the series began in January 1976.

Excluding energy, producer price inflation was 13.7%, versus 12.3% in February.

The core rate was the biggest since June 1984.

Consumer goods

Among components of PPI, energy prices recorded a sharp 134.6% growth and intermediate goods prices posted a double-digit growth of 22.9%.

Prices of consumer goods and capital goods were up 8.5% and 5.1%, respectively.

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