FILE PHOTO: A worker pulls a cart with boxes in Ronda, Spain, October 13, 2022. REUTERS/Jon Nazca
MADRID (Reuters) — Spanish industrial production prices rose 35.6% in the 12 months through September, down from a 42.9% increase in the year through August, the National Statistics Institute (INE) said on Tuesday.
The industrial 12-month production price increase in September was the slowest since December 2021, INE’s data showed. The increase had peaked at an all-time record of 47% in the period through March as energy prices skyrocketed.
INE revised the year-on-year August number to 42.9% from a previous 41.8%. Industrial prices were unchanged in September compared with August, INE said.
Excluding energy prices, annual industrial price inflation stood at 14% in September, down from 14.4% a month earlier, INE said.
Companies tend to pass on industrial price rises to customers, ultimately fuelling inflation, which in Spain is running at its fastest pace in three decades.