Financial News: Spain Inflation Rises To 2.4%, Highest In 4

Spain Inflation Rises To 2.4%, Highest In 4 Months

11/28/2024 - 03:39:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation increased more than expected in November to the highest level in four months, flash data from the statistical office INE showed on Thursday.

Consumer price inflation rose to 2.4 percent in November from 1.8 percent in October. That was just above the expected rate of 2.3 percent.

Data showed that underlying inflation, which excludes non-processed food and energy products, slowed slightly to 2.4 percent from 2.5 percent in October.

The upward trend in overall inflation was mainly due to the rise in costs for electricity and fuel, the agency said.

On a monthly basis, consumer prices edged up 0.2 percent, slower than the 0.6 percent rise in October. It was the second successive monthly increase.

EU-harmonized inflation also accelerated to 2.4 percent from 1.8 percent a month ago, in line with expectations. Month-on-month, the harmonized index of consumer prices remained flat versus a 0.4 percent rise in October.

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