Spain Reports Deflation For Eight Consecutive Month

Consumer prices in Spain fell 1.1 percent year-on-year in February of 2015, slowing from a 1.3 percent drop in January and matching preliminary estimates. Final figures showed the decline in the cost of fuel and lubricants eased while food prices increased.

Year-on-year, transport prices decreased 5.6 percent, compated to 7.7 percent decline reported in January. Cost of food and non-alcoholic beverages increased 0.2 percent, rebounding from a 0.4 percent fall in the previous month, boosted by higher prices of fresh vegetables. In contrast, housing cost decreased 1.9 percent due to lower electricity prices.

Core inflation was recorded at 0.2 percent.

On a monthly basis, consumer prices rose 0.2 percent in February after falling 1.6 percent in January. Price increases were reported for: transport (2.2 percent), food and non-alcoholic beverages (0.3 percent), recreation and culture (0.4 percent) and hotels, cafes and restaurants (0.2 percent).

The EU-harmonized index decreased 1.2 percent year-on-year but rose 0.1 percent month-over-month.

Spain Reports Deflation For Eight Consecutive Month

Joana Taborda |
3/12/2015 10:06:19 AM