Spain Producer Prices Rise the Most in a Year

2026-04-24 07:30 By Joana Taborda 1 min. read

Producer prices in Spain increased 3.4% year-on-year in March 2026, the first increase in five months, and the largest in a year, following a 6.9% fall in February.

Energy prices surged by 7.9%, 30 percentage points higher than in February, driven by rising costs in electricity generation, transmission, and distribution, as well as petroleum refining and, to a lesser extent, gas production and pipeline distribution of gaseous fuels, reflecting broader upward pressure linked to the war with Iran.

Excluding energy, producer prices rose 1.2%, compared to a 0.9% gain in the previous month.

Also, intermediate goods were up 0.8%, 0.7 percentage points higher than in February, led by manufacture of basic chemicals, nitrogen compounds, fertilizers, plastics, and synthetic rubber in primary forms.

Compared with the previous month, the PPI rose by 6.5%, the largest increase since March 2022, with around half of the rise driven by a 46.3% increase in oil refining prices.



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