June 25 – Spanish industrial prices rose in May at their fastest pace since December 2022, fuelled by a considerable increase in energy prices, the National Statistics Institute (INE) said on Thursday.
The 10.5% year-on-year rise followed a revised 8.5% increase in the 12 months through April.
It was driven by a 28.2% increase in energy costs, mainly due to higher prices of electric power generation, transmission and distribution.
INE revised up the April figure from an initial 8.3% rise.
Companies tend to pass on industrial price rises to customers, ultimately fuelling inflation.
Industrial prices rose 1.0% in May from April, INE said.
(Reporting by Joanna Jonczyk-Gwizdala, Editing by Javi West Larrañaga, Alexandra Hudson)
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