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Financial News: Spain Inflation Rises Less Than Estimated In December

Spain Inflation Rises Less Than Estimated In December

01/14/2022 - 08:34:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation accelerated less than initially estimated in December but the rate was the highest 1992, final data from the statistical office INE showed on Friday.

Consumer price inflation rose to 6.5 percent in December from 5.5 percent in November. Although inflation was slower than the 6.7 percent estimated initially, this was the fastest pace since May 1992.

Likewise, EU harmonized inflation climbed sharply to 6.6 percent from 5.5 percent in November. The rate was revised down marginally from 6.7 percent.

Core inflation increased to 2.1 percent in December from 1.7 percent a month ago.

On a monthly basis, consumer prices grew 1.2 percent after climbing 0.3 percent in the prior month. The initial estimate for December was 1.3 percent.

Similarly, the harmonized index of consumer prices gained 1.1 percent, faster than the 0.2 percent increase seen in November but slower than the initial estimate of 1.2 percent.

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