Spanish Export, Import Prices Fall Further In July

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Spain's export prices dropped 5% year-on-year in July, faster than a 4.1% drop in the preceding month, the National Statistics Institute said Monday. Export prices have been declining continuously since December last year.

At the same time, import prices dropped 11.2% annually, after a 10.8% decline in the preceding month. Import prices have also been declining steadily since December.

Energy showed the biggest drop in the case of both export and import prices. Energy export prices fell 40.8% in July, while the corresponding import prices were down 42.7%.

Meanwhile, on a monthly basis, export prices fell 0.1%, reversing a 0.5% rise in the previous month. Import prices were flat in July, after rising 1% in the preceding month.

(Market News Provided by RTTNews)