Spain February Inflation Rate Confirmed at 1.1%

Consumer prices in Spain rose 1.1 percent year-on-year in February of 2018, following a 0.6 percent gain in the previous month and in line with market expectations. Cost advanced faster mostly due to higher prices of electricity compared to a drop in the same month a year earlier.

Year-on-year, prices rebounded for housing and utilities (1.4 percent compared to -2.0 percent in January), boosted by electricity prices and recreation and culture (0.6 percent compared to -0.5 percent). Additionally, cost increased further for restaurants and hotels (2.1 percent compared to 2.0 percent); miscellaneous goods and services (0.8 percent compared to 0.4 percent) and clothing and footwear (0.6 percent compared to 0.5 percent). Also, cost went up faster for communications (2.3 percent compared to 0.9 percent) and alcoholic beverages and tobacco (1.4 percent compared to 1.3 percent) and prices were flat for furnishings, household equipment and routine maintenance of the house after a 0.3 percent drop in January. Meantime, prices slowed for food and non-alcoholic beverages (0.9 percent compared to 1.3 percent); transport (1.1 percent compared to 1.8 percent) and health (0.2 percent compared to 0.3 percent). In addition, inflation was steady for education (0.7 percent, the same pace as in January).

Annual core inflation, which excludes volatile items such as food and energy, rose 1.1 percent in February, following a 0.8 percent in the prior month.

On a monthly basis, consumer prices increased 0.1 percent, unrevised from the preliminary estimate and after a 1.1 percent fall. Prices rose mostly for recreation and culture (1.4 percent); communications (1.9 percent) and restaurants and hotels (0.5 percent).

The harmonised index of consumer prices advanced 1.2 percent from the previous year and 0.1 percent month-over-month.

Spain February Inflation Rate Confirmed at 1.1%

INE | Stefanie Moya |
3/13/2018 8:49:10 AM