RTTNews - Tuesday, the National Statistics Institute of Spain announced that Spanish producer prices recorded a monthly fall in July, reversing a trend of rising prices in the last two months. Year-on-year, producer prices recorded the biggest fall of 2009 in the month of July.
Spain's producer prices were down 0.2% on month, reversing the 0.6% rise recorded in the last month and the 0.1% increase in May.
On a yearly basis, the producer price index slumped 6.7% in July compared to the 4.9% decrease in the previous month. Economists had expected a 6% drop.
Coke and refined petroleum products recorded the largest monthly price fall in July, down 3.7%. It was followed by paper & paper products and fabricated metal products (except machinery & equipment), down 0.6% and 0.1%, respectively.
On the other hand, food products recorded the most significant rise in July, up 0.4% from last month, while chemical & chemical products rose 0.8%. Electricity and gas prices increased 0.1%, month-on-month.
Of the main industrial groupings, energy prices fell 1% from the previous month, while the capital goods index dropped 0.1%. The consumer goods index was up 0.2% in July.
In terms of individual communities, producer prices recorded the largest fall in Murcia, down at a monthly pace of 1.5%. Balears witnessed the biggest rise in prices, up 1% in July, followed by Extremadura, up 0.7%.
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