(Reuters) -The rise in Spanish industrial prices calculated over a 12-month period slowed in April on cheaper energy, the National Statistics Institute (INE) said on Monday. The industrial price index
Spanish Industrial Price Growth Slows in April Due to Lower Energy Costs
(Reuters) -The rise in Spanish industrial prices calculated over a 12-month period slowed in April on cheaper energy, the National Statistics Institute (INE) said on Monday.
The industrial price index rose an annual 1.9% in April, down from a revised 4.6% increase in the 12 months through March, INE said.
Industrial prices fell 2.9% in April from March, driven by a 15.9% decline in electricity prices and a 7.3% contraction in refined oil products, INE said. The price of vegetable oils, mainly made from olives in Spain, fell 4%.
INE revised the year-on-year March price increase to 4.6% compared with an initial 4.9%.
Industrial price changes tend to anticipate consumer prices as companies eventually transfer most of their cost increases to customers, ultimately fuelling inflation.
Spain's European Union-harmonised 12-month inflation rate remained at 2.2% in April from the period through March.
(Reporting by Marta Serafinko in Gdansk and Javi West Larrañaga; editing by Inti Landauro and Mark Heinrich)
