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Financial News: Spain Inflation At 13-Month Low

Spain Inflation At 13-Month Low

12/30/2022 - 05:30:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation eased for the fifth successive month in December to the lowest level in just over a year amid a reduction in the price growth of electricity and fuel, preliminary figures from the statistical office INE revealed on Friday.

Consumer prices climbed 5.8 percent year-over-year in December, slower than the 6.8 percent rise in November.

Moreover, this was the slowest inflation rate since November last year, when prices had risen 5.5 percent.

The easing trend in inflation was mainly due to slower rise in electricity prices and fuel prices compared to last year, the statistical office said.

Excluding energy and non-processed food, core inflation rose to 6.9 percent in December from 6.3 percent in the prior month.

On a monthly basis, consumer prices rebounded 0.3 percent from November, when they dropped by 0.1 percent.

EU harmonized inflation stood at 5.6 percent in December versus 6.6 percent in the previous month.

The harmonized index of consumer prices edged up 0.1 percent monthly at the end of the year.

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