Chile and Spain report rising industrial and producer prices in July

In Chile, the Producer Price Index (PPI) for industries rose by 1.9% in July, bringing the year-to-date accumulation to 10.9%. The mining sector was a primary driver, with the index increasing by 2.5%, largely due to a 2.7% rise in copper extraction and processing. Additionally, the manufacturing industry saw a 1.0% increase, while transportation costs fell by 2.9% in July, driven by a 13.5% decrease in fuel costs.

In Spain, industrial inflation rose to 9.2% in July compared to the previous year, a 2.2 percentage point increase from June. This surge was primarily driven by energy costs, which rose 20.8% annually due to higher expenses in the production, transport, and distribution of electricity. Regional data shows significant spikes, with Asturias at 19% and the Canary Islands at 18.5%. When energy costs are excluded, the industrial price increase drops to 3.5%.