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Financial News: Spain Inflation Highest Since 2019

Spain Inflation Highest Since 2019

03/30/2021 - 05:47:00 (RTTNews)

(RTTNews) - Spain's consumer prices increased in March at the fastest pace since April 2019, flash data from the statistical office INE showed on Tuesday.

Consumer prices grew 1.3 percent year-on-year in March, after staying flat in February. This was the highest rate since April 2019, when prices gained 1.5 percent. At the same time, core inflation held steady at 0.3 percent in March.

Month-on-month, consumer prices climbed 1 percent, in contrast to a 0.6 percent fall in February. This was the first rise in three months.

Inflation, based on the harmonized index of consumer prices came in at 1.2 percent versus a 0.1 percent fall in February. Economists had forecast an annual growth of 0.9 percent.

On a monthly basis, the HICP advanced 1.9 percent, reversing a 0.6 percent drop in the previous month.

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