Spain Producer Prices Fall Sharply In October

(RTTNews) - Spain's producer prices declined for the eighth successive month in October amid cheaper energy costs, the statistical office INE said Friday.

The producer price index fell 7.8 percent year-over-year in October, following an 8.5 percent decline in September. Prices have been falling since March.

Excluding energy, producer price inflation moderated to 1.3 percent from 1.8 percent.

On a monthly basis, producer prices declined 1.5 percent in October, reversing a 1.5 percent increase seen in September.

The annual fall in overall producer prices was driven by the sharp 23.7 percent decline in energy prices. Intermediate goods prices also showed a fall of 5.4 percent.

Meanwhile, prices for capital goods and consumer goods grew by 2.7 percent and 8.0 percent, respectively, in October from last year.