Spain Inflation Rate Confirmed at 0.7% in October
Spanish consumer prices rose 0.7 percent year-on-year in October 2016, compared to a 0.2 percent rise in September and matching preliminary estimates. It was the second straight month of increase and the highest figure since August 2013, mainly driven by an increase in cost of transport and restaurants, cafes and hotels.
11/15/2016 9:16:14 AM
Compared to the same month of the preceding year, cost of transport went up 1.7 percent, followed by restaurants, cafes and hotels (+1.2 percent). Prices also increased for miscellaneous goods and services (1.9 percent), clothing and footwear (+0.9 percent), food and alcoholic beverages (+0.3 percent) and communications (+3.2 percent). In contrast, cost fell for housing (-0.4 percent) , health (-0.2 percent) and recreation and culture (-1.9 percent).
Core inflation, which strips out volatile food and energy prices, was recorded at 0.8 percent, the same pace as in the prior month.
On a monthly basis, consumer prices rose 1.1 percent, compared to a flat growth in a month earlier and in line with estimates.
The harmonized index increased by 0.5 percent year-on-year, after remaining unchanged in September. The monthly index went up 0.8 percent, up slightly from a 0.7 percent rise in a month earlier and matching consensus.