Spain PPI

Data Prices

Source: Instituto Nacional de Estadistica
Source Link: https://ine.es/
Frequency: Monthly
Next Release(s): October 24th, 2025 3:00 AM

Latest Updates

Spain PPI: August 2025 2025-09-24 03:00
Spain PPI: July 2025 2025-08-25 03:00
Spain’s Industrial Price Index (IPRI) rose +3.2% MoM and +0.8% YoY in June 2025, up from -0.1% YoY in May, driven by a sharp rebound in energy prices.
- Energy prices rose +4.1 pts YoY to 3.5%, with electricity up +25.2% MoM and oil refining +3.6% MoM.
- Core IPRI (excluding energy) fell -0.6% YoY, 1.4 pts below the headline index.
- Intermediate goods declined -0.7% YoY, with notable weakness in animal feed prices.
- Monthly declines were led by animal feed (-1.4% MoM), basic chemicals (-1.3%), and non-ferrous metals (-1.8%).
- Smaller positive contributions came from plastics (+0.9% MoM) and meat processing (+0.4%).
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Spain’s Industrial Price Index (IPRI) was down -0.7% MoM and flat at 0.0% YoY in May 2025, down from 1.6% YoY in April.
- Core IPRI (ex-energy) was down -0.4% YoY, underperforming the headline index by 0.4 pts and the lowest since August 2020.
- Energy prices declined -0.4% YoY (down 5.0 pts), driven by electricity and gas, though oil refining fell less than in May 2024.
- Consumer non-durables fell -1.7% YoY, with vegetable and animal oils and fats posting notable declines.
- Intermediate goods were down -0.3% YoY, dragged by lower prices in precious and non-ferrous metals.
- The steepest MoM declines came from electricity (-4.5%), oils and fats (-3.4%), and chemicals (-2.8%), while fruit and veg (+1.2%) and meat processing (+0.8%) posted gains.
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Spain’s Industrial Price Index (IPRI) fell -2.9% MoM in April but remained up 1.9% YoY, slowing from 4.6% YoY in March.
- Energy prices were up 5.7% YoY, down sharply from 15.8% in March, due to steep declines in electricity and oil refining prices.
- Intermediate goods prices were nearly flat at 0.1% YoY, with notable declines in chemicals and non-ferrous metals.
- Consumer non-durables fell -1.3% YoY, though the rate of decline eased from March due to smaller drops in oils and fats.
- Core IPRI (excluding energy) was unchanged YoY at -0.1%, 2.0 pts below the headline index.
- The steepest monthly declines came from electricity (-15.9%), oil refining (-7.3%), and vegetable/animal oils (-4.0%), while meat processing (+1.3%) and steel (+1.6%) posted gains.
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Spain’s Industrial Price Index (IPRI) fell -3.9% MoM in March but remained up 4.9% YoY, down from 6.7% YoY in February.
- Energy prices rose 16.8% YoY, though the rate slowed sharply due to lower electricity, oil refining, and gas prices.
- Consumer non-durables PPI declined -1.8% YoY, led by a steeper drop in vegetable and animal oils and fats.
- Core IPRI (ex-energy) was down -0.1% YoY, 5.0 pts below the headline index.
- Major monthly declines came from electricity (-19.2%), oil refining (-6.5%), and gas (-3.8%).
- Monthly gains were seen in locomotives (+7.1%) and food products like meat and other foodstuffs.
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Spain’s PPI increased 0.4% MoM and 2.6% YoY in January, up from 2.3% YoY in December. This is the highest annual rate since February 2023.
- Ex-energy PPI was down -0.2% YoY, the same as in December.
- Energy costs were up 8.6% YoY as gas production prices (+4.8% MoM) and oil refining (+5.8% MoM) prices increased.
- Consumer non-durables producer prices were down -1.5% YoY in January, falling from -0.9% YoY in December as animal & vegetable oils & fats fell -1.6% MoM.
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Spain’s PPI increased 0.9% MoM and 2.3% YoY in December, up from 1.2% YoY in November. However, when excluding energy, PPI was actually down -0.2% YoY, the first negative reading since March. Producers’ energy costs were up 7.5% YoY, the highest since December 2022. Offsetting the increase in energy was a -0.9% YoY decline in non-durable consumer goods PPI.

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Spain’s PPI increased 2.7% MoM and 0.9% YoY in November, up from -3.9% YoY in October and the first positive annual move since February 2023. However, when excluding energy, PPI was up just 0.2% YoY, the lowest since March 2024.

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