Spain Inflation Rate Confirmed at 1-Year Low of 1%

The annual inflation rate in Spain fell to 1 percent in January of 2019 from 1.2 percent in the previous month and in line with preliminary estimates. It was the lowest inflation rate since January of 2018, mostly due to a slowdown in prices of food and non-alcoholic beverages and housing.

Year-on-year, cost slowed for food and non-alcoholic beverages (0.9 percent from 1.3 percent in December); housing (2.4 percent from 2.5 percent) and clothing and footwear (0.8 percent from 0.9 percent). In addition, prices dropped for transport (-0.2 percent from 0.2 percent) and decreased further for recreation and culture (-0.9 percent from -0.1 percent). Meanwhile, inflation was steady for restaurant and hotels (1.8 percent, the same as in December); health (0.9 percent); alcoholic beverages and tobacco (1.3 percent) and education (1 percent). On the other hand, cot rose faster for miscellaneous goods and services (1.4 percent from 1.1 percent); furniture and household equipment (0.5 percent from 0.3 percent) and communication (2.6 percent from 2.3 percent).  

Annual core inflation, which excludes volatile items such as food and energy, eased to 0.8 percent in January from 0.9 percent in December.

On a monthly basis, consumer prices declined 1.3 percent in January, after decreasing 0.4 percent in December and matching earlier estimates.

The harmonized index of consumer prices advanced 1 percent year-on-year (from 1.2 percent in December), and declined 1.7 percent from the previous month (from -0.5 percent in December). 

Spain Inflation Rate Confirmed at 1-Year Low of 1%

INE | Agna Gabriel |
2/15/2019 8:20:12 AM