Spain producer prices rise for the first time in a year

 

Spanish producer prices rose 0.4 percent in December compared to a year earlier, the first annual increase in a year and after prices fell 1.8 percent in November, the National Statistics Institute said on Monday.

Producer prices hit a record low in July of -6.7 percent as energy prices plummeted by 16 percent. Energy prices rose by 6.3 percent in December year on year.

In month-on-month terms, producer prices rose 0.1 percent in December after remaining flat in November compared to October.

Spain announced more closely watched consumer price data for December earlier this month, which showed a 0.8 percent year-on-year rise.

Inflation is expected to remain at low levels through 2010 as the country struggles to make its way out of recession.