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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain Producer Price Index YoY fell to 7.0% in June 2026
FMPMonthlyReleased July 2026
Spain Producer Price Index YoY fell to 7.0% in June 2026, released July 2026, down 3.5% from May's 10.5% reading. The reading missed the 10.1% consensus by 3.1%. The print is running well above the 12-month average of 1.16%. Over the past 3 months, Producer Price Index YoY averaged 9.4%, vs -2.17% in the prior 3-month window. The reading is in the 83rd percentile of the trailing 24-month range.
Latest Release
7
Actual
10.1
Consensus
10.5
Previous
Median Absolute Error
±2.03 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 11.83
Actual: 7
Error: +4.82
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▼ Inverse | −0.74 | COMMODITIES | Moves against | → View |
| GBP/USD | ▼ Inverse | −0.26 | FOREX | Moves against | → 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 7% in July 2026. This missed the market consensus of 10.1% by 3.1%. The reading fell from the previous value of 10.5%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 1.43%, ranging from -7% to 10.5% across 9 releases.
WHY IT MATTERS
The trailing three releases averaged 8.6%, up from the prior three at -4.13%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with XAU/USD (Bearish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 2.03%.
WHAT TO WATCH NEXT
The next release is scheduled for August 25, 2026. Same-country events in the next 14 days include S&P Global Manufacturing PMI (Aug 3) and Employment Change (Aug 4).
Auto-generated from current model state · Refreshes on each release · Last update July 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 came in at 7.000000% for July, missing the 10.100000% estimate and down from June's 10.500000%. This marks a continued deceleration in producer price inflation from June to July. The slowdown may influence market expectations ahead of upcoming inflation data and ECB policy discussions. Updated 7/26/26
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 (Jun 2026): actual 7 %, consensus 10.1 %. Prior reading (May 2026): 10.5 %. Before that (Apr 2026): 8.3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with XAU/USD (Bearish XAU, r=-0.74) — a useful reference for commodities-focused traders.
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EXPECTED ZONE
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Economic Calendar - ES Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 07:00 | ES | CPI MoM | 0.2 | 0.6 | 0.2 | 0.20 | Low |
| 07:00 | ES | HICP YoY | 3.8 | 3.6 | 3.7 | 3.75 | Medium |
| 07:00 | ES | CPI YoY | 3.5 | 3.2 | 3.2 | 3.35 | Medium |
| 07:00 | ES | HICP MoM | -0.1 | 0.6 | -0.2 | -0.15 | Low |
| 07:00 | ES | Core Inflation Rate YoY | 3 | 2.9 | 2.9 | 2.95 | Low |
| 07:00 | ES | Gross Domestic Product YoY | 2.7 | 2.7 | 2.5 | 2.60 | Low |
| 07:00 | ES | Inflation Rate YoY | 3.5 | 3.2 | 3.4 | 3.45 | Medium |
| 07:00 | ES | GDP Growth Rate QoQ | 0.7 | 0.6 | 0.6 | 0.65 | High |
| 07:00 | ES | Harmonised Inflation Rate MoM | -0.1 | 0.6 | -0.2 | -0.15 | Low |
| 07:00 | ES | Harmonised Inflation Rate YoY | 3.8 | 3.6 | 3.7 | 3.75 | Low |
| 07:00 | ES | GDP Growth Rate YoY | 2.7 | 2.7 | 2.5 | 2.60 | High |
| 07:00 | ES | Gross Domestic Product QoQ | 0.7 | 0.6 | 0.6 | 0.65 | Medium |
| 07:00 | ES | Inflation Rate MoM | 0.2 | 0.6 | 0.2 | 0.20 | Medium |
| 11:00 | ES | Business Confidence | -2.6 | -2.4 | -2.7 | -2.65 | Medium |
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 08:00 | ES | Current Account | 1.84 | 1.88 | 4.5 | 3.17 | Low |