The Spanish statistical office INE released its producer price index (PPI) data for Spain on Thursday. The Spanish producer prices dropped 2.5% in January, after a 0.7% fall in December.

On a yearly basis, producer price inflation in Spain fell 2.5% in January, after a 1.7% decline in December. December's figure was revised up from a 2.2% drop.

Producer prices have been declining since July 2014.

Energy prices slid 9.8% year-on-year in January.