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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain Producer Price Index YoY climbed to 8.3% in April 2026
FMPMonthlyReleased May 2026
Spain Producer Price Index YoY climbed to 8.3% in April 2026, released May 2026, up 5.2% from March's 3.1% reading. The print exceeded the 3.8% consensus by 4.5%. Producer Price Index YoY has now risen for 3 consecutive months. Producer Price Index YoY is now the highest in 15 months.
Latest Release
8.3
Actual
3.8
Consensus
3.1
Previous
Median Absolute Error
±1.9 percentage points
across last 12 releases
Last Call
May 2026
Predicted: 2.85
Actual: 8.3
Error: -5.45
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| XAU/USD | ▼ Inverse | −0.73 | COMMODITIES | Bearish XAU | → View |
| GBP/USD | ▼ Inverse | −0.38 | FOREX | Bearish GBP | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Producer Price Index YoY (Spain) was reported at 8.3% in May 2026. This beat the market consensus of 3.8% by 4.5%. The reading rose from the previous value of 3.1%. Trailing 12-month context per ETL data through May 2026. Over the past 12 months, the indicator has averaged -0.21%, ranging from -7% to 8.3% across 9 releases.
WHY IT MATTERS
The trailing three releases averaged -0.53%, up from the prior three at -1.1%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with XAU/USD (Bearish XAU). A secondary relationship exists with GBP/USD, negatively correlated (Bearish GBP). Over the last 12 releases, the Sigmacast model's median absolute error is 1.9%.
WHAT TO WATCH NEXT
The next release is scheduled for June 25, 2026. Same-country events in the next 14 days include Balance of Trade (Jun 23) and Gross Domestic Product QoQ (Jun 25).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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Producer Price Index YoY - ES
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About Producer Price Index YoY — Spain
DEFINITION
Spain's Producer Price Index YoY surged to 8.300000% in May, sharply exceeding the 3.800000% estimate and rising from April's 3.400000%. This marks a significant acceleration in producer inflation, reversing the prior months' subdued or negative trends. Markets will closely watch the impact on inflation expectations and potential ECB policy responses. Updated 5/26/26
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual 8.3 %, consensus 3.8 %. Prior reading (Mar 2026): 3.4 %. Before that (Feb 2026): -7 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with XAU/USD (Bearish XAU, r=-0.73) — a useful reference for commodities-focused traders.