In June 2023, industrial prices in Spain dropped by 3.5% compared to the same month the previous year. This decline was less severe than the 4.5% decrease recorded in May, largely influenced by the energy sector.
Data from the Industrial Price Index (IPRI) released by the National Institute of Statistics (INE) shows that this marks the sixteenth consecutive month of falling prices. However, since February, when prices plummeted by 8.5%, the decreases have been less pronounced.
The INE highlighted that energy prices played a significant role in moderating the overall drop in the index. Although energy prices fell by 12.7%, this decline was two percentage points less than in May. This was primarily due to rising electricity costs, even as oil refining prices decreased.
For more insights on industrial prices and their impact, you can check out resources like the European Commission’s website.
Image and News Source: https://www.infobae.com/espana/agencias/2024/07/24/los-precios-industriales-moderan-su-caida-en-junio-al-35/
