Spanish Inflation Rate At More Than 4-Year High

Spanish consumer prices rose 3 percent from a year earlier in January 2017, following a 1.6 percent increase in the previous month and in line with the preliminary reading. It was the highest inflation rate since October 2012, as prices rose at a faster pace for transport, housing and food.

Year-on-year, the biggest upward pressure came from: Transport (7.6 percent from 4.7 percent in December); housing and utilities (7.4 percent from 0.8 percent); and food and non-alcoholic beverages (1 percent from 0.8 percent). Prices also rose for: Miscellaneous goods and services (1.4 percent); hotels, cafés and restaurants (1.2 percent); recreation and culture (0.9 percent); and clothing and footwear (0.9 percent). Meanwhile, cost fell 0.2 percent for furnishings and household equipment.

Annual core inflation, which strips out volatile food and energy  prices, was 1.1 percent, compared to a reading of 1 percent a month earlier. 

On a monthly basis, consumer prices fell 0.5 percent, following a 0.6 percent gain in December due to lower prices for clothing and footwear (-15.3 percent) and recreation and culture (-1.5 percent).

The EU-harmonised index rose by 2.9 percent on the year, the biggest gain since December 2012, but fell 1 percent on the month.

Spanish Inflation Rate At More Than 4-Year High

INE | Joana Ferreira |
2/15/2017 10:37:08 AM