RTTNews reports that data from the statistical office INE showed that Spain's producer prices continued to decline in December albeit at a slower pace.

Producer prices decreased 1.4 percent year-on-year in December, much slower than the 2.8 percent fall posted in November.

The annual fall was driven by a 6.3 percent decline in energy prices. Excluding energy, producer price inflation rose to 0.8 percent from 0.5 percent.

On a monthly basis, producer prices grew 1 percent versus a 0.9 percent increase in November.