Bloomberg News

Spanish Producer Price Inflation Slows as Economy Stalls

November 25, 2011

Nov. 25 (Bloomberg) -- Spain’s producer-price inflation slowed the most in five months in October after the economy stalled.

Prices of goods leaving factories, mines and refineries rose 6.5 percent from a year earlier, after increasing 7.1 percent in September, the National Statistics Institute in Madrid said today. That was the biggest drop in the annual rate since May and matched the median estimate in a Bloomberg survey of three economists. Prices were unchanged on the month.

Spain’s economy stagnated in the third quarter as unemployment surged to almost 23 percent in September, the highest in the European Union. Crude oil rose 7 percent in the 12 months to the middle of October.

--Editors: Andrew Davis, Lorenzo Totaro

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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