Energy prices push Spanish industrial prices to record high in October
Nov 25 (Reuters) - Spanish industrial production prices in October hit a record high, pushed up by soaring power costs, the Spanish National Statistics Institute said on Thursday.
Prices jumped 31.9% year on year in October, the fastest annual pace since the data series began in January 1976, INE said. The 12-month rate was 23.6% in September.
Energy costs drove most of the increase in the industrial prices index in October with a 87.3% jump from a year earlier, INE said, pushed up by increases in costs of electricity generation, transmission and distribution.
Industrial production price hikes are generally partly transferred by companies to customers and end up fuelling inflation. In recent months energy prices and inflation have rocketed in Spain and other European countries as disruption in global supply chains have strangled the market. (Reporting by Aida Pelaez-Fernandez, editing by Inti Landauro and Edmund Blair)
