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Financial News: Spain Inflation Slows In April

Spain Inflation Slows In April

05/13/2022 - 09:29:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation eased more than initially estimated in April, latest figures from the statistical office INE showed on Friday.

Consumer prices climbed 8.3 percent year-over-year in April, slower than March's 9.8 percent rise. The rate was revised down from 8.4 percent.

The overall price increase in April was largely driven by an 18.8 percent surge in housing costs. Costs for transport also logged a double-digit growth of 12.8 percent and food and non-alcoholic beverages prices grew 10.1 percent.

Meanwhile, underlying inflation rose to 4.4 percent in April from 3.4 percent in March, as estimated.

On a monthly basis, consumer prices edged down 0.2 percent in April, in contrast to a 3.0 percent rise in the prior month. According to flash estimate, the monthly fall was 0.1 percent.

The EU measure of inflation, or HICP, rose 8.3 percent annually in April, as estimated. At the same time, the HICP fell 0.3 percent from a month ago versus the flash estimate of -0.2 percent.

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