Financial News: Spain Inflation Rises To 4.1%, As Estimated

Spain Inflation Rises To 4.1%, As Estimated

05/12/2023 - 07:25:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation accelerated as initially estimated in April after easing to an 18-month low in March, the latest figures from the statistical office INE showed Friday.

The consumer price index, or CPI, rose 4.1 percent year-over-year in April, faster than the 3.3 percent increase in the previous month. That was in line with the flash data published on April 28.

Excluding non-processed food and energy prices, core inflation eased to 6.6 percent from 7.5 percent in March.

The acceleration in inflation was largely driven by a 12.9 percent surge in prices for food and non-alcoholic beverages.

Costs for furniture and household equipment alone grew 6.3 percent from last year, and those for hotels, cafes, and restaurants advanced by 7.6 percent. At the same time, housing costs fell sharply, by 10.8 percent.

On a monthly basis, consumer prices moved up 0.6 percent versus 0.4 percent in March, as estimated.

The harmonized index of consumer prices, or HICP, grew 3.8 percent annually in April after rising 3.1 percent a month ago. Month-on-month, the HICP moved up 0.5 percent. There was no change in the figures compared to the previous estimate.

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