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(MNI) LONDON
(MNI) London
There was no let up in the surging costs for producers in Spain, with year-on-year producer inflation surging by 23.6% in September -- 5.6 percentage points higher than August levels. The September surge leaves Spain's factory gate inflation at the highest level since 1977 and will undoubtedly make uncomfortable reading for the European Central Bank's Governing Council as they gather on Thursday.
All sectors added to PPI across the month, but by far the main driver was energy costs, higher by 59.6% y/y -- the highest since the series started in 1976, according to Spanish stats agency IPRI.
Spain annual PPI (%)
Source: IPRI
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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