Data published by the National Statistics Institute (INE) showed that producer prices fell by 8.2% per annum in March after a decrease of 8.5% per annum in February (revised from -8.2%). It marked the 13th consecutive month of producer deflation. Economists had expected prices to decrease by 7.0% per annum. On a monthly basis, producer prices fell by 2.2%, slowing slightly compared to February (-2.6%).
INE said that prices for consumer goods rose by 3.9% per annum in March after an increase of 4.5% per annum in February, while prices for capital goods increased by 2.3% per annum, slowing compared to February (+2.5%). Prices for intermediate goods fell by 4.9% per annum compared with a decrease of 5.4% per annum in February. The cost of energy fell by 24.6% per annum after a decrease of 25.1% per annum in February.
Meanwhile, the producer price index excluding energy fell by 0.1% per annum after remaining unchanged in February.