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Spain’s producer prices climbed in July at the fastest pace since 1980, data published by the statistical office INE showed on Monday.

Producer price inflation surged to 18 percent from 15.6 percent in July. This was the highest annual rate since May 1980.

Excluding energy, producer price inflation rose to 8.4 percent from 8 percent in the previous month.

On a monthly basis, producer prices were up 1.9 percent after climbing 2 percent in July.

Among components of PPI, energy posted the biggest annual growth of 41.6 percent. Intermediate goods prices advanced 16.1 percent. Consumer goods and capital goods prices grew 3.8 percent and 2.4 percent, respectively.


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