Spanish producer prices increase sharply in May

Spanish producer prices logged double-digit growth in May, but the annual pace of increase slowed from April, data released by the statistical office INE showed on Monday.

Producer prices advanced 43.6% on a yearly basis in May, after climbing 44.5% in April.

Excluding energy, producer price inflation slowed to 15.3%, from 15.6% in the previous month.

Among components of the producer price index, energy prices registered the biggest annual increase of 113.6% in May. This was followed by a 25.0% rise in intermediate goods prices.

Prices of consumer goods were up 9.8% and capital goods prices grew 5.7%.

Month-on-month, producer prices gained 0.9% in May, slower than April's 1.3% rise.