Spain’s industrial prices rise in July ’24

Spain’s annual Industrial Price Index (IPRI) recorded 1.4 per cent in July 2024, an improvement of 1.8 points from June.

The energy sector significantly influenced this trend, with its variation increasing by 5.3 points to -6.6 per cent, driven by higher prices in electricity production, transport, and distribution, despite a drop in gas production prices.

Intermediate goods saw a smaller annual decline of 1.2 per cent, 0.9 points better than June, due to less severe price drops in iron, steel, and ferroalloys manufacturing.

Conversely, consumer non-durables experienced a decrease in their annual rate to 2.7 per cent, 0.8 points lower than the previous month, mainly due to falling prices in vegetable and animal oils and fats.

Excluding energy, the general IPRI’s annual rate remained at 0.9 per cent, 2.3 points higher than the overall index, highlighting the varied performance across different industrial sectors.