Spain Deflation Deepens in February

Consumer prices in Spain decreased 0.8 percent year-on-year in February of 2016, following a 0.3 percent fall in January and in line with preliminary estimates. It is the sharpest drop since September 2015, mainly due to falls in prices of housing and transport while food inflation slowed, final figures showed.

Compared to February 2015, prices went down for housing (-6.3 percent from -6 percent in January), transport (-4.7 percent from -1.9 percent) and recreation and culture (-0.1 percent).

Prices of food and non-alcoholic beverages rose at a slower pace (1.3 percent from 2.1 percent in January), while communication cost grew the most (2.7 percent), followed by other goods and services (1.5 percent) and hotels, cafes and restaurants (1.4 percent).

On a monthly basis, consumer prices fell by 0.4 percent, following a 1.9 percent drop in January: housing prices went down 1.6 percent, clothing and footwear fell 1.6 percent, transport decreased 0.7 percent and food declined 0.5 percent.

The harmonized index dropped 1.0 percent on an annual basis and 0.4 percent from the preceding month.

Spain Deflation Deepens in February

INE | Mojdeh Kazemi |
3/11/2016 12:26:12 PM