Good news comes from the economic front in Spain on the inflation front. According to the Instituto Nacional de Estadística (INE) of Madrid in March the figure, measured by the producer price index, was down by 8.2% on an annual basis, after -8.5% in February.
On a monthly basis, the producer price index fell by 2.2%, an improvement compared to the previous 2.3%.
We remind you that production prices refer to transactions between companies, in particular between the selling company with production plants located in Italy and the purchasing company which operates domestically or abroad. This index measures the changes over time in the prices that are formed in the first stage of marketing. Like the consumer price index, it is one of the main indicators of inflation.
The figure is closely observed by analysts and investors because Spain’s economy is among the advanced ones in Western Europe. Its strong points are agriculture, livestock farming, fishing, the wealth of raw materials and tourism. Instead its weaknesses are the lack of oil and insufficient communications.
PHOTO: SHUTTERSTOCK
