Spain’s producer price inflation accelerated to 18.3% year over year in September 2026, up from 13.2% in August, marking the steepest increase since November 2022. The acceleration was primarily driven by a sharp rise in energy costs, with prices surging 49.8%, compared with 33.3% in the previous month. Inflation also picked up for intermediate goods (7.5% vs. 7.1%) and durable consumer goods (3.9% vs. 3.6%). In contrast, price growth eased slightly for capital goods (2.3% vs. 2.4%) and non-durable consumer goods (0.1% vs. 0.2%). On a monthly basis, producer prices rose 4.0%, the largest increase since March.