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Factory-Gate Inflation Sees First Slowing Since Feb 2021

SPAIN DATA
MNI (London)

SPAIN APR PPI +1.6% M/M, +45.0% Y/Y, MAR +47.0%r Y/Y

  • Spanish PPI slowed by two points to a near-record high of +45.0% y/y in April. This is the first deceleration in year-on-year PPI since February 2021, where levels were back around 0.6% y/y.
  • Energy prices accounted for the bulk of the slowdown, softening 17.5pp in April to +119.0% y/y and down -0.6% m/m.
  • Intermediate and non-durable goods' prices continued to climb, causing core factory-gate inflation to rise 1.9 points to +15.6% y/y in April. This is a fresh post-April 1980 high.

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SPAIN APR PPI +1.6% M/M, +45.0% Y/Y, MAR +47.0%r Y/Y

  • Spanish PPI slowed by two points to a near-record high of +45.0% y/y in April. This is the first deceleration in year-on-year PPI since February 2021, where levels were back around 0.6% y/y.
  • Energy prices accounted for the bulk of the slowdown, softening 17.5pp in April to +119.0% y/y and down -0.6% m/m.
  • Intermediate and non-durable goods' prices continued to climb, causing core factory-gate inflation to rise 1.9 points to +15.6% y/y in April. This is a fresh post-April 1980 high.

Keep reading...Show less