MADRID (dpa-AFX) - Spain's producer price inflation accelerated for an eleventh month in December to its highest level on record, preliminary data from the statistical office INE showed Tuesday.
The industrial producer price index climbed 35.9 percent year-on-year following a revised 32.2 percent increase in November.
The inflation rate was the highest since the series began in January 1976, the INE said.
Energy prices surged 95.9 percent, the fastest increase since the series began, mainly because the rise in prices of the production, transportation and distribution of electrical energy was higher than a year ago.
Meanwhile, prices in oil refining decreased versus an increase in the same month last year.
Producer prices for non-durable consumer goods increased 5.3 percent annually, mainly due to the rise in prices in meat processing, which declined a year ago.
Intermediate goods prices surged 20.6 percent year-on-year, logging the biggest increase since January 1976.
Excluding energy, producer prices rose 11.0 percent year-on-year in December, which was the biggest increase since October 1984.
Compared to the previous month, producer prices rose 3.8 percent in December after a 1.3 percent gain in November.
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