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Financial News: Spain Inflation Highest Since 2018

Spain Inflation Highest Since 2018

05/14/2021 - 04:30:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation accelerated to the highest level in more than two years, as initially estimated, in April, final results from the statistical office INE showed on Friday.

The consumer price index rose 2.2 percent year-on-year, following a 1.3 percent increase in March.

The rate came in line with the preliminary estimate published on April 29 and was the highest since October 2018, when the inflation rate was 2.3 percent.

Core consumer prices remained flat on year, after rising 0.3 percent each in March and February, data showed.

Housing cost increased the most in April, up 10 percent from the last year, followed by a 7.4 percent rise in transport cost. Meanwhile, communication costs dropped 4.6 percent.

On a monthly basis, the overall CPI advanced 1.2 percent, up from 1 percent in March and matched the flash estimate.

Inflation, based on the harmonized index of consumer prices or HICP, accelerated to 2 percent from 1.2 percent in March. The rate was slightly above the flash estimate of 1.9 percent.

On a month-on-month basis, the HICP gained 1.1 percent, as initially estimated, from 1.9 percent in the previous month.

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