Spain's producer prices declined 2.5 percent year-on-year in August 2019, following a downwardly revised 0.7 percent fall in the previous month. It was the biggest decrease in producer prices since August 2016, as cost dropped further for intermediate goods (-0.8 percent from -0.6 percent in July) and energy (-7.8 percent from -2.4 percent). Additionally, prices of consumer goods slowed (0.4 percent from 0.5 percent), mainly due to non-durable (0.3 percent from 0.4 percent). Also, inflation was steady capital goods prices (at 1.1 percent). On a monthly basis, producer prices were unchanged, after a downwardly revised 0.2 percent gain in the prior month. Producer Prices Change in Spain averaged 5.04 percent from 1976 until 2019, reaching an all time high of 24.60 percent in December of 1977 and a record low of -6.70 percent in July of 2009.
Producer Prices Change in Spain is expected to be -1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Spain to stand at 0.90 in 12 months time. In the long-term, the Spain Producer Prices Change is projected to trend around 1.90 percent in 2020, according to our econometric models.