Data published by the National Statistics Institute (INE) showed that producer prices fell by 6.6% per annum in April after a decrease of 8.2% per annum in March. It marked the 14th consecutive month of producer deflation. Economists had expected prices to decrease by 7.0% per annum. On a monthly basis, producer prices fell by 0.2%, slowing sharply compared to March (-2.2%).
INE said that prices for consumer goods rose by 3.3% per annum in April after an increase of 3.9% per annum in March, while prices for capital goods increased by 2.0% per annum, slowing compared to March (+2.3%). Prices for intermediate goods fell by 4.0% per annum compared with a decrease of 4.9% per annum in March. The cost of energy fell by 20.5% per annum after a decrease of 24.7% per annum in March.
Meanwhile, the producer price index excluding energy remained unchanged after falling 0.1% in March.