Financial News: Spain Inflation Confirmed At 4-Month High

Spain Inflation Confirmed At 4-Month High

12/13/2024 - 06:28:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation increased as initially estimated in November to the highest level in four months, final data from the statistical office INE showed on Friday.

Consumer price inflation rose to 2.4 percent in November from 1.8 percent in October. That was in line with the flash data published on November 28.

Data showed that underlying inflation, which excludes non-processed food and energy products, slowed slightly to 2.4 percent from 2.5 percent in October, as estimated.

The annual price growth in housing quickened to 7.4 percent from 4.2 percent in October, driven by higher electricity prices. Meanwhile, the decline in transport costs eased to 1.0 percent from 3.0 percent.

On a monthly basis, consumer prices edged up 0.2 percent, slower than the 0.6 percent rise in October, as estimated.

EU-harmonized inflation also accelerated to 2.4 percent from 1.8 percent a month ago. Month-on-month, the harmonized index of consumer prices remained flat versus a 0.4 percent rise in October. There was no change in figures compared to the earlier estimate.

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