Financial News: Spain Inflation Confirmed At 3.2%

Spain Inflation Confirmed At 3.2%

(RTTNews) - Spain's consumer price inflation increased, as initially estimated in March, the latest data from the statistical office INE showed on Friday.

The consumer price index advanced 3.2 percent on a yearly basis, following February's 2.8 percent rise. That was in line with the flash data published on March 27.

Excluding food and energy prices, underlying inflation softened to 3.3 percent from 3.5 percent a month ago, as estimated.

Housing costs grew at an accelerated rate of 4.2 percent annually in March versus a 2.7 percent rise in February, led by higher electricity costs.

Similarly, the annual price growth for leisure and culture rose to 3.8 percent from 2.8 percent. Meanwhile, food and non-alcoholic prices increased at a slower pace of 4.3 percent.

Data showed that monthly consumer price inflation doubled to 0.8 percent from 0.4 percent, as estimated.

Inflation, based on the harmonised index of consumer prices, climbed to 3.3 percent annually in March from 2.9 percent a month ago. In the initial estimate, the rate of increase was 3.2 percent.

Month-on-month, the HICP moved up 1.4 percent following February's 0.4 percent increase. The March figure was revised up from 1.3 percent.

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