RTTNews - Producer prices in Spain dropped 4.4% in May, faster than a 3.4% fall in the preceding month, the National Statistical Institute said Thursday. Economists expected a decline of 4.5%. Producer prices were down for the fifth consecutive month on an annual basis in May.
Compared to the previous month, producer prices rose 0.1% in May, after declining 0.3% in April.
Annually, manufacturing prices fell 7.4%, while mining and quarrying as also utility prices increased 1.6% and 14.6% respectively. Among the major industrial groups, energy showed the biggest drop in prices, by 9.7%, followed by a 6.3% fall in prices of intermediate goods.
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