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Financial News: Spain Inflation Rises Slightly Less Than Estimated

Spain Inflation Rises Slightly Less Than Estimated

11/12/2021 - 04:31:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation rose slightly less than estimated in October but was the fastest since 1992, final data from the statistical office INE showed on Friday.

Consumer price inflation rose to 5.4 percent in October from 4 percent in September. The rate was marginally below the 5.5 percent estimated on October 28. Nonetheless, inflation was the strongest since September 1992.

Inflation was largely driven by the 20.5 percent increase in housing and 12.3 percent rise in transportation costs.

Core inflation, which excludes prices of fresh food and energy products, rose to 1.4 percent, as initially estimated, from 1 percent in September.

On a monthly basis, consumer prices advanced 1.8 percent after rising 0.8 percent in the previous month. The monthly rate was revised down from the flash estimate of 2 percent.

Year-on-year, EU harmonized inflation climbed to 5.4 percent from 4 percent a month ago. The INE revised down the annual rate from 5.5 percent.

The harmonized index of consumer prices gained 1.6 percent on month versus the 1.1 rise in September and the flash 1.7 percent.

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