Spain Deflation Eases in April
Spanish consumer prices declined 0.6 percent year-on-year in April of 2015 from a 0.7 percent drop in March, as transport, housing and communications cost fell. It is the tenth consecutive month that Spain reports a deflation.
The biggest price decreases were reported for: communications (-3.5 percent), transport (-3.4 percent); housing (-1.9 percent); and recreation and culture (-1.3 percent). In contrast, upward pressure came from: food and non-alcoholic beverages (+0.4 percent) restaurants, cafes and hotels (+0.6 percent); clothing and footwear (+0.1 percent); education (+1.3 percent); and alcoholic beverages and tobacco (+1.5 percent).
Core inflation was recorded at 0.3 percent, up from 0.2 percent in the previous three months.
On a monthly basis, consumer prices rose 0.9 percent, lower than expected, after increasing 0.6 percent in March. Cost of transport; clothing and footwear; and housing went up by 0.6 percent, 10.6 percent and 0.1 percent, respectively. On the other hand, prices of food and non-alcoholic beverages fell 0.1 percent.
The EU-harmonized index decreased 0.7 percent year-on-year but rose 0.7 percent month-over-month.
5/13/2015 9:03:02 AM