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Financial News: Spain Inflation Accelerates Sharply In April

Spain Inflation Accelerates Sharply In April

04/29/2021 - 04:53:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation accelerated strongly in April, preliminary figures from the statistical office INE showed Thursday.

The consumer price index rose 2.2 percent year-on-year, following a 1.3 percent increase in March. Economists had expected the inflation rate to remain steady.

Inflation was mainly driven by a rise in prices for electricity, while fuel prices remained unchanged versus a fall in April last year, the INE said.

Core inflation, which excludes prices of energy and fresh food, slowed to 0.0 percent from 0.3 percent in each of the previous two months.

Compared to the previous month, prices rose 1.2 percent in April after a 1.0 percent gain in the previous month.

Inflation, based on the harmonized index of consumer prices or HICP, accelerated to 1.9 percent from 1.2 percent in March. Economists had forecast an acceleration to 1.8 percent.

On a month-on-month basis, the HICP climbed 1.1 percent.

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