Bloomberg News

Spanish Producer Price Inflation Keeps at 7.1% Pace in September

October 25, 2011

Oct. 25 (Bloomberg) -- Spain’s producer-price inflation kept up the same pace in September as the previous month, stoked by higher oil costs.

Prices of goods leaving Spain’s factories, mines and refineries rose 7.1 percent from a year earlier, the same pace as in August, the National Statistics Institute in Madrid said today. Prices were forecast to climb 7.3 percent, according to the median estimate in a Bloomberg survey of four economists. They increased 0.2 percent on the month.

Crude oil surged 18 percent in the 12 months to the middle of September. Spain’s producer-price inflation is faster than the euro-region average, even as the country struggles to emerge from a three-year economic slump with an unemployment rate of more than 21 percent.

Spain’s consumer prices rose 3 percent in September from a year earlier, the same rate as in the euro region on average. European producer prices climbed 5.9 percent from a year earlier in August.

--Editors: Craig Stirling, Jeffrey Donovan

To contact the reporter on this story: Emma Ross-Thomas in Madrid at erossthomas@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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