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Investing.com -- Spanish industrial prices saw a slower increase in April, according to data from the National Statistics Institute (INE) on Monday.
The industrial price index, calculated over a 12-month period, rose by 1.9% in April, marking a decrease from a revised 4.6% increase seen in the 12 months through March.
The slowdown in the growth of industrial prices was largely due to a decrease in energy costs.
Specifically, there was a significant reduction in electricity prices, which fell by 15.9% in April from March.
Refined oil products also saw a contraction of 7.3% in the same period.
Furthermore, the price of vegetable oils, primarily produced from olives in Spain, decreased by 4%.
In addition to the latest figures for April, the INE also revised the year-on-year increase in prices for March.
Initially reported as a 4.9% rise, the revised figure stands at a 4.6% increase.
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