Spain Inflation Rate Confirmed At 2.6% In April

Spanish consumer prices rose 2.6 percent year-on-year in April, compared to a 2.3 percent increase in the previous month and marching preliminary estimates. Higher inflation rate was mainly driven by faster rise in cost of housing and utilities and cafes, hotels and restaurants and rebound in prices of recreation and culture.

Year-on-year, consumer prices advanced faster for housing (5.4 percent vs 4.3 percent in March), hotels, cafes and restaurants (2 percent vs 1.2 percent) and recovered for recreation and culture (3.4 percent vs -0.3 percent). Meanwhile, cost eased for transport (6.2 percent vs 6.5 percent) and food and non-alcoholic beverages (1.1 vs 1.4 percent).

Annual core inflation, which strips out volatile food and energy prices, was 1.2 percent, higher than 0.9 percent a month earlier.

On a monthly basis, consumer prices increased 1 percent compared to a flat reading in March.

The EU-harmonised index rose 2.6 percent year-on-year, higher than 2.1 percent in February. The monthly rate went up 0.9 percent from 1.1 percent in March.

Spain Inflation Rate Confirmed At 2.6% In April

INE |Luisa Carvalho |
5/12/2017 7:31:31 AM