The industrial production price index (IPPI) fell 3.5% in February, compared to the same month in 2025, due to the reduction in energy prices, according to data from the National Statistics Institute (INE) released this Wednesday, 18.
This contraction is mainly explained by energy pooling, with an annual reduction of 18.8% and a contribution of -3.3 percentage points (pp) (-8.3% and -1.4 pp in the previous month).
The groups of intermediate goods and consumer goods also showed negative changes in February (-0.8% and -0.5%, respectively).
As a whole, they contributed -0.5 pp in the month under review, compared to -0.9 pp in January.
Capital goods continued to counter the downward trend in prices, presenting an annual increase of 1.6% in February, 0.1 pp less than in the previous month, contributing 0.2 pp to the variation in the aggregate index.
In terms of monthly variation, there was a year-on-year decline in the index in February, standing at 1.1%, reversing the positive rate of 0.3% recorded in February 2025, highlighted the INE.
This negative variation was essentially due to the energy group, which presented a contribution of -1.5 pp, associated with a monthly reduction of 9.2%.
The investment goods, consumer goods and intermediate goods groups recorded positive contributions of 0.1 pp each, reflecting monthly growth of 0.6%, 0.4% and 0.4%, respectively.
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