Spain Inflation Rate Confirmed at -0.8% in March

Consumer prices in Spain decreased 0.8 percent year-on-year in March of 2016, the same as in the previous month and in line with preliminary estimates, final figures showed. It is the third straight month of falls, dragged down by lower prices for housing, fuels and lubricants.

Year-on-year, housing prices recorded the biggest drop (-6.3 percent), followed by transport (-5.3 percent) and health (-0.5 percent). Main upward pressure came from cost of food and non-alcoholic beverages (+1.7 percent) and hotels and restaurants (+1.6 percent).

Compared to the previous month, prices were 0.6 percent higher rebounding from falls in the previous three months. It is the highest increase in five months, boosted by prices of clothing and footwear (+4.3 percent), transport (+1.5 percent), hotels, cafes and restaurants (+0.5 percent) and recreation and culture (+0.8 percent). In contrast, cost of housing (-0.1 percent) and food and non-alcoholic beverages (0 percent) contributed negatively to the CPI change.

The harmonized index declined 1 percent year-on-year but rose 2 percent from the previous month, matching preliminary estimates.

Spain Inflation Rate Confirmed at -0.8% in March

INE | Francisco Caeiro |
4/13/2016 8:50:46 AM