MADRID (Reuters) – Spanish industrial prices accelerated by 41.8% in the 12 months through August ending four months of easing increases, the National Statistics Institute (INE) said on Monday.
Industrial prices gained 2.8% in August from the previous month driven by energy prices, mainly gas and electricity, the INE said. It revised the year-on-year July number to 40.5% from a previous 40.4%.
The 12-month industrial price increase peaked at an all-time record of 47% in the period through March.
Excluding energy, which was more than double the price a year ago, annual industrial price inflation stood at 14.4% in August, down from 14.6% a month earlier, INE said.
Companies tend to pass on industrial price rises to customers, ultimately fuelling inflation, which in Spain as in many other countries is running at its fastest pace in three decades.
(Reporting by Joanna Jonczyk-Gwizdala and Joao Manuel Mauricio, Editing by Inti Landauro)
