Decline in Spain’s producer prices softens in August

Spain’s producer prices improved during the month of August, decreasing at a slower pace than that in the previous month.

The industrial producer price index dropped 3.1 percent year-on-year following a 4.6 percent fall in July. The pace of decline was the slowest since December, when prices decreased 2.2 percent, data released by the statistical office INE showed Friday.

Energy prices tumbled 10.3 percent and prices of intermediate goods dropped 1.6 percent. Consumer goods prices registered a 0.2 percent fall. Capital goods prices rose 0.5 percent.

On a month-on-month basis, producer prices declined 0.2 percent in August, which was the first drop in four months, while prices stagnated in July.