Spain Deflation Deepens in April

Consumer prices in Spain declined 1.1 percent year-on-year in April of 2016, following a 0.8 percent drop in each of the previous two months. It is the lowest figure since February of 2015, preliminary figures showed.

Lower global oil prices have been dragging down the inflation. The last time consumer prices recorded an increase was in July last year when the inflation came in at 0.1 percent. In April, the country stayed in deflation for the fourth straight month, mainly due to lower prices for holiday packs and electricity.

On a monthly basis, consumer prices are expected to rise 0.7 percent, following a 0.6 percent increase in March and the highest value in a year. 

The harmonized index fell 1.2 percent on the year but gained 0.4 percent from the previous month.

Spain Deflation Deepens in April

INE | Joana Taborda |
4/28/2016 8:27:04 AM