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Financial News: Spain Consumer Price Inflation Strongest Since 1992

Spain Consumer Price Inflation Strongest Since 1992

12/30/2021 - 05:48:00 (RTTNews)

(RTTNews) - Spain consumer prices grew at the fastest pace since March 1992, flash data from the statistical office INE showed Thursday.

Consumer price inflation rose to 6.7 percent in December from 5.5 percent in November. Prices advanced at the fastest pace since March 1992 and also far exceeded the expected rate of 5.7 percent. Core inflation came in at 2.1 percent in December, up from 1.7 percent in November.

Electricity and food prices contributed the most to the increase in consumer price inflation.

EU harmonized inflation also climbed to 6.7 percent from 5.5 percent in November, data showed. The rate was forecast to climb to 5.8 percent.

On a monthly basis, consumer prices grew 1.3 percent after climbing 0.3 percent in the prior month.

Similarly, the harmonized index of consumer prices gained 1.2 percent, faster than the 0.2 percent increase seen in November. The expected rate was 0.4 percent.

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