News

Spain Consumer Price Deflation Deepens in October
Spain's consumer prices declined 0.8 percent from a year earlier in October 2020, the most since a 0.9 percent drop seen in May, as domestic demand remained subdued amid the coronavirus crisis. Cost was down for transport (-5.1 percent vs -5.0 percent in September), housing and utilities (-3.6 percent vs -1.4 percent), and recreation and culture (-0.7 percent vs -1.1 percent). At the same time, upward pressure came from food and non-alcoholic beverages (2.3 percent vs 2.4 percent), restaurants and hotels (0.3 percent, the same as in September), clothing and footwear (1.0 percent, the same as in September) and miscellaneous goods and services (1.4 percent vs 1.5 percent). On a monthly basis, consumer prices increased 0.5 percent in October.
Published on 2020-11-13

Spain CPI Drops the Most in 5 Months
Consumer prices in Spain are expected to decrease 0.9 percent year-on-year in October of 2020, following a 0.4 percent fall in the previous month and compared to market expectations of a 0.6 percent drop, a preliminary estimate showed. It was the steepest fall in consumer prices since May. The harmonised index of consumer prices is seen falling 1 percent over a year ago, after a 0.6 percent decline in September. On a monthly basis, consumer prices are likely to advance 0.5 percent, accelerating from a 0.2 percent gain; and the harmonised index should increase 0.3 percent, following a 0.4 percent rise. The country slipped into deflation in April when the coronavirus crisis started to hit more the economy.
Published on 2020-10-29

Spain Consumer Prices Fall at a Softer Pace in September
Consumer prices in Spain dropped 0.4 percent year-on-year in September 2020, following a 0.5 percent fall in August and matching a preliminary estimate. Prices declined less for housing & utilities (-1.4% vs -2.7% in August); and recreation & culture (-1.1% vs -2.1%). Also, cost of food & non-alcoholic beverages rose further (2.4% vs 2.2%). Meanwhile, prices dropped at a faster pace for transportation (-5% vs -4.4%) and communications (-1.4% vs -1.2%). In addition, cost of health slowed (0.4% vs 0.5%) while inflation was steady for alcoholic beverages & tobacco (at 0.5%). The harmonised index of consumer prices went down 0.6% over a year earlier, the same as in the prior month, in line with a preliminary estimate. On a monthly basis, consumer prices increased 0.2% and the harmonised index advanced 0.4%, both matching a preliminary estimate. The prices of the products included in the COVID-19 special goods group were unchanged in September, while those of services rose 0.6%.
Published on 2020-10-14

Spain CPI Falls Less than Expected in September
Consumer prices in Spain are expected to drop 0.4 percent year-on-year in September of 2020, following a 0.5 percent decrease in August and compared with market expectations of a 0.5 percent fall, a preliminary estimate showed. The harmonised index of consumer prices is seen dropping 0.6 percent over a year ago, the same as in the previous month. On a monthly basis, consumer prices are expected to increase 0.2 percent, while the harmonised index is expected to edge up 0.1 percent. The country slipped into deflation in April when the coronavirus crisis started to hit more the economy.
Published on 2020-09-29

Spain Consumer Prices Drop for 5th Month
Consumer prices in Spain fell 0.5% year-on-year in August of 2020, following a 0.6% decrease in the prior month, matching a preliminary estimate. It was the fifth consecutive month of deflation, as prices continued to fall for housing & utilities (-2.7% vs -3.9% in July); transportation (-4.4% vs -4.5%); recreation & culture (-2.1% vs -1.1%) and communications (-1.2%, the same pace as in July). Meantime, inflation remained steady for food & non-alcoholic beverages (at 2.2%); alcoholic beverages & tobacco (at 0.5%) and health (at 0.5%). The harmonised index of consumer prices decreased 0.6% over a year earlier, after declining 0.7% in July, in line with a preliminary estimate. On a monthly basis, both consumer prices and the harmonised index were flat, matching a preliminary estimate. The prices of the products included in the COVID-19 special goods group went up 0.1% over a month earlier in August, while those of services rose 0.2%.
Published on 2020-09-11

Spain Consumer Prices Fall for 5th Month
Spain's consumer prices are expected to fall 0.5 percent year-on-year in August of 2020, following a 0.6 percent decrease in the prior month and in line with market expectations, a preliminary estimate showed. The harmonised index of consumer prices is seen dropping 0.6 percent over a year ago, after declining 0.7 percent in July. On a monthly basis, both consumer prices and the harmonised index are set to be flat. The country slipped into deflation in April when the coronavirus crisis started to hit more the economy.
Published on 2020-08-31

Spain Consumer Prices Fall for 4th Month
Consumer prices in Spain fell 0.6 percent year-on-year in July 2020, following a 0.3 percent drop in the previous month, matching a preliminary estimate. Prices declined further for housing & utilities (-3.9% vs -3.8% in June); and recreation & culture (-1.1% vs -0.3%). Also, cost of communications dropped (-1.2% vs 0.7%) and inflation slowed for food & non-alcoholic beverages (2.2% vs 2.8%); restaurants & hotels (0.3% vs 1.8%) and alcoholic beverages & tobacco (0.5% vs 0.7%). Meanwhile, cost of transport fell at a softer pace (-4.5% vs -5.2%). The harmonised index of consumer prices decreased 0.7 percent over a year earlier, after falling 0.3 percent in June. On a monthly basis, consumer prices went down 0.9 percent and the harmonised index dropped 1.6 percent. The prices of the products included in the COVID-19 special goods group fell 0.7 percent over a month earlier in June, while those of services were unchanged.
Published on 2020-08-13

Spain CPI Falls More than Expected in July
Spain's consumer prices is expected to fall 0.6 percent from a year earlier in July 2020, following a 0.3 percent decline in the previous month and compared to market expectations of a 0.3 percent decrease, a preliminary estimate showed. The country slipped into deflation in April as the coronavirus pandemic hit the economy.
Published on 2020-07-30

Spain Consumer Prices Drop for 3rd Month
Consumer prices in Spain dropped 0.3 percent year-on-year in June 2020 following a 0.9 percent decline in the previous month, in line with a preliminary estimate. Prices fell at a softer pace for transport (-5.2% vs -8% in May); and housing & utilities (-3.8% vs -6%). On the other hand, cost slowed for food & non-alcoholic beverages (2.8% vs 3.5%); clothing & footwear (0.2% vs 0.4%); furnishings & household equipment (0.2% vs 0.4%): and miscellaneous goods & services (1.4% vs 1.6%). The harmonised index of consumer prices decreased 0.3 percent over a year earlier, after declining 0.9 percent in May. On a monthly basis, consumer prices went up 0.5 percent and the harmonised index increased 0.4 percent. The prices of the products included in the COVID-19 special goods group went down 0.3 percent over a month earlier in June, while those of services advanced 1.2 percent.
Published on 2020-07-14

Spain Consumer Prices Fall for 3rd Month
Consumer prices in Spain are expected to fall 0.3 percent year-on-year in June 2020, following a 0.9 percent decrease in the previous month, a preliminary estimate showed. The harmonised index of consumer prices is seeing dropping 0.3 percent over a year earlier, after declining 0.9 percent in May. On a monthly basis, consumer prices will likely rise 0.5 percent and the harmonised index is expected to increase 0.4 percent. The prices of the products included in the COVID-19 special goods group went down 0.2 percent over a month earlier in June, while those of services edged up 1.2 percent.
Published on 2020-06-29

Spain Consumer Prices Fall Less than Initially Thought
Consumer prices in Spain fell 0.9 percent year-on-year in May of 2020, following a 0.7 percent drop in the previous month and compared to preliminary estimates of a 1 percent decline. Prices continued to drop for transport (-8% vs -6.8% in May); housing & utilities (-6% vs -6.6%) and recreation & culture (-0.1%, the same as in April). Also, cost eased for food & non-alcoholic beverages (3.5% vs 4%); clothing & footwear (0.9% vs 1%); communication (0.4% vs 0.7%) and education (0.8% vs 0.9%). The harmonised index of consumer prices went down 0.9 percent from a year earlier, faster than a 0.7 percent drop. On a monthly basis, consumer prices showed no growth, in line with earlier estimates. The prices of the products included in the COVID-19 special goods group services showed no growth from a month earlier in May, after increasing 1.1 percent. Also, those of services were unchanged, following a 1.5 percent decrease in April.
Published on 2020-06-12

Spain Consumer Prices Fall Faster than Expected
Consumer prices in Spain are expected to drop 1 percent year-on-year in May of 2020, following a 0.7 percent fall in the previous month and compared to market expectations of a 0.9 percent decrease. The harmonised index of consumer prices is seen declining 0.9 percent from a year earlier, faster than a 0.7 percent drop. On a monthly basis, both consumer prices and the harmonised index are expected to show no growth, in line with forecasts. The prices of the products included in the COVID-19 special goods group went up 0.1 percent over a month earlier in May, while those of services decreased 0.2 percent.
Published on 2020-05-28

Spain Consumer Prices Drop for 1st time in Over 3 Years
Consumer prices in Spain fell 0.7 percent year-on-year in April 2020, following a flat reading in the previous month in line with preliminary estimates. It was the first decline in consumer prices since August 2016. The harmonised index of consumer prices declined 0.7 percent from a year earlier, compared to earlier estimates of a 0.6 percent drop. On a monthly basis, consumer prices went up 0.3 percent, while the harmonised index increased 0.4 percent. The prices of the products included in the COVID-19 special goods group went up 1.1 percent over a month earlier in April, while those of services decreased 1.5 percent.
Published on 2020-05-14

Spain Consumer Prices Fall for 1st time in Over 3 Years
Consumer prices in Spain fell 0.7 percent year-on-year in April 2020, following a flat reading in the previous month and compared with market expectations of a 0.8 percent decrease, a preliminary estimate showed. It was the first decline in consumer prices since August 2016, mostly due to cost of fuel. The harmonised index of consumer prices is seen dropping 0.6 percent from a year earlier, compared to forecasts of 0.8 percent. On a monthly basis, consumer prices are expected to rise 0.3 percent, while the harmonised index is expected to increase 0.4 percent. The INE also released two special aggregations that include the impact of the coronavirus pandemic on prices. The prices of the products included in the COVID-19 special goods group went up 1.2 percent over a month earlier in April, while those of services decreased 1.4 percent.
Published on 2020-04-30

Spain Consumer Prices Unchanged in March
Consumer prices in Spain were unchanged in March 2020, following a 0.7 percent rise in the previous month and below a preliminary estimate of a 0.1 percent gain. Cost of transport dropped (-2.4% vs 1.8% in February) and prices of housing & utilities fell further (-4.8% vs -3.7%). Also, prices slowed for health (0.3% vs 0.4%) and hotels & restaurants (1.9% vs 2.2%). Meanwhile, cost of food & non-alcoholic beverages rose at a faster pace (2.5% vs 2%); and inflation remained steady for miscellaneous goods & services (at 1.4%); clothing & footwear (at 1.1%) and education (at 0.9%). The EU-harmonised index went up 0.1 percent, easing from a 0.9 percent gain in the prior month and below forecasts of a 0.2 percent increase. On a monthly basis, consumer prices declined 0.4 percent, after a 0.1 percent fall in February. Compared to the previous month, the EU-harmonised index rose 0.6 percent, rebounding from a 0.1 percent drop in February.
Published on 2020-04-15

Spain Inflation Rate Eases to 5-Month Low in March
The annual inflation rate in Spain is expected to fall to 0.1 percent in March 2020 from 0.7 percent in the previous month and below market expectations of 0.5 percent, a preliminary estimate showed. It was the lowest inflation rate since October last year, amid a slowdown in cost of transport and a decline in housing and communication prices. The harmonised index of consumer prices is seen rising 0.2 percent from a year earlier, compared to forecasts of 0.9 percent. On a monthly basis, consumer prices are expected to decrease 0.3 percent, while the harmonised index is expected to rise 0.7 percent.
Published on 2020-03-30

Spain Inflation Rate Revised Down to 0.7% in February
The annual inflation rate in Spain fell to 0.7% in February of 2020 from a nine-month low of 1.1% in the prior month and slightly below an earlier estimate of 0.8%. Prices slowed mostly for transport (1.8% vs 4% in January), namely fuels & lubricants (2.3% vs 8.4%). In addition, housing & utility prices continued to fall (-3.7% vs -3.5%). Meantime, inflation remained steady for food & non-alcoholic beverages (at 2%); miscellaneous goods & services (at 1.4%); clothing & footwear (at 1.1%) and education (at 0.9%). The EU-harmonised index advanced 0.9% year-on-year, after a 1.1% rise in the prior month and matching market expectations. On a monthly basis, consumer prices edged up 0.1%, easing sharply from a 1.2% rise in the previous month and in line with market forecasts. Compared to the previous month, core consumer prices dropped 0.1%, following a 1.4% decline in January while markets had expected prices to be flat.
Published on 2020-03-13

Spain Inflation Rate Slows from 9-Month Low
Spain's annual inflation rate is expected to fall to 0.8 percent in February 2020 from a nine-month low of 1.1 percent in the previous month, due to a decline in fuels and lubricants prices, a preliminary estimate showed. The harmonised index of consumer prices is seen rising 0.9 percent from a year earlier, compared to forecasts of 0.8 percent. On a monthly basis, consumer prices are expected to decrease 0.1 percent, while the harmonised index is set to remain unchanged.
Published on 2020-02-27

Spain Inflation Rate Confirmed at 9-Month High
Annual inflation rate in Spain increased to 1.1 percent in January 2020 from 0.8 percent in the previous month, in line with preliminary estimates. It was the highest inflation since April 2019, mainly due to higher prices of food & non-alcoholic beverages (2.0 percent from 1.7 percent in December); recreation & culture (0.3 percent from 0.1 percent); clothing & footwear (1.1 percent from 0.9 percent) and alcoholic beverages & tobacco (0.5 percent from 0.4 percent). Meantime, inflation was steady for transport (at 4.0 percent); miscellaneous goods & services (at 1.4 percent); restaurant & hotels (at 2.0 percent); health (at 0.5 percent) and education (at 0.9 percent). On a monthly basis, consumer prices dropped 1 percent, after a 0.1 percent decrease in December and also matching earlier estimates.
Published on 2020-02-14

Spain Inflation Rate Rises to 9-Month High of 1.1%
Annual inflation rate in Spain is expected to increase to 1.1 percent in January 2020 from 0.8 percent in the previous month and above market expectations of 1 percent, a preliminary estimate showed. It was the highest inflation rate since April 2019, mainly due to higher prices of electricity and food and non-alcoholic beverages. On a monthly basis, consumer prices are set to decline 1 percent, after decreasing 0.1 percent in December. The EU-harmonised index is seeing to advance 1.1 percent year-on-year, after a 0.8 percent rise in the prior month and above market consensus of 1 percent. Compared to the previous month, the index should slump 1.4 percent, after a 0.1 percent drop in the previous month.
Published on 2020-01-31