Financial News: Spain Consumer Prices Log Steady Growth

Spain Consumer Prices Log Steady Growth

11/14/2023 - 05:00:00 (RTTNews)

(RTTNews) - Spain consumer prices grew at a steady rate in October, as initially estimated, final data from the statistical office INE showed on Tuesday. The consumer price index posted an annual increase of 3.5 percent in October, the same rate as seen in September and matched the flash estimate released on October 30.

Underlying inflation eased to 5.2 percent from 5.8 percent in September. This was the weakest since May 2022.

Food and non-alcoholic beverages prices surged 9.5 percent and alcoholic beverages and tobacco prices gained 7.6 percent. By contrast, housing prices were down 7.7 percent.

On a monthly basis, consumer prices gained 0.3 percent, accelerating from 0.2 percent in September. The rate came in line with the initial estimate.

EU harmonized inflation accelerated to 3.5 percent from 3.3 percent in September. On the other hand, the rise in the harmonized index of consumer prices halved to 0.3 percent from 0.6 percent.

Both monthly and annual HICP rates matched the preliminary estimate.

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