Inflation in Spain slowed to 5.8% in December
2022.12.30 06:29
Inflation in Spain slowed to 5.8% in December
Budrigannews.com – Flash data from the National Statistics Institute (INE) showed on Friday that lower electricity prices compared to a year ago contributed to a 5.8% increase in Spanish consumer prices in December, which was their slowest annual rate this year.
However, the INE data revealed that year-over-year core inflation, which excludes volatile prices for fresh food and energy, was at 6.9%, up from 6.3% a month earlier.
Spain had the lowest rate of inflation among the 27 countries that make up the European Union in November, at 6.7%, following a July high of around 11%.
“Our reading is very positive.” In an interview with the broadcaster SER, Economy Minister Nadia Calvio stated, “Core inflation is taking longer to come down because it took longer to go up.” Five points in five months.
Inflation in Spain over the past 12 months was harmonised by the European Union at 5.6%, down from 6.7% in November and below the 6.0% anticipated by analysts polled by Reuters.
Price increases appear to have been influenced by restrictions on rent increases, energy bill relief for consumers, free rail travel, and discounts on urban transportation.
Recently, Spain supported the current year’s third significant bundle of measures to facilitate the aggravation of expansion, remembering decreases for esteem included charge fundamental food staples like bread or milk and a 200-euro reward for families with yearly salaries underneath the limit of 27,000 euros.
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