Spanish Producer Price Inflation At 1-1/2-Year Low

Spain’s producer price inflation slowed to the weakest pace in nearly one-and-a-half years in May, data from the statistical office INE showed on Tuesday.

The producer price index climbed 1.1 percent year-on-year in May, after a 2.4 percent increase in April and March.

The latest inflation was the slowest since January last year, when it was zero.

Excluding energy, producer prices rose 0.3 percent annually in May, same as seen in April.

On a month-on-month basis, producer prices were flat on month, after a 0.7 percent increase in the prior month.

Among the components, energy prices rose 2.7 percent in May from last year and intermediate goods rose 0.3 percent. Non-durable consumer goods remained flat.

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