Spain Annual Inflation Rate Confirmed at 1.2% in December

The annual inflation rate in Spain fell to 1.2 percent in December of 2018 from 1.7 percent in the previous month matching a preliminary estimate and market expectations. It remained the lowest inflation rate since April, mostly due to a slowdown in cost of transport and food and non-alcoholic beverages.

Prices eased for food & non-alcoholic beverages (1.3 percent from 1.4 percent in November); transport (0.2 percent from 3.3 percent); housing & utilities (2.5 percent from 2.8 percent); restaurants & hotels (1.8 percent from 2.1 percent) and miscellaneous goods and services (1.1 percent from 1.2 percent). On the other hand, cost of recreation & culture declined at a softer pace (-0.1 percent from -0.5 percent) while inflation was steady for clothing & footwear (0.9 percent, the same as in November).  

Annual core inflation, which excludes volatile items such as food and energy, was at 0.9 percent in December, unchanged from the prior month.

On a monthly basis, consumer prices went down 0.4 percent in December, after decreasing 0.1 percent in November and in line with earlier estimates and market consensus.

The harmonized index of consumer prices advanced 1.2 percent year-on-year (from 1.7 percent in November), and declined 0.5 percent from the previous month. (from -0.2 percent in November). 

Spain Annual Inflation Rate Confirmed at 1.2% in December

INE |Stefanie Moya |
1/15/2019 8:22:37 AM