Spain Inflation Rate Confirmed At 3% In February

Spanish consumer prices increased 3 percent year-on-year in February of 2017, the same as in the previous month and in line with preliminary estimates. Prices rose at a faster pace for transport and food while slowed for housing, driven by lower electricity cost. On a monthly basis, prices fell 0.4 percent, compared to 0.3 percent drop according to preliminary estimates.

Year-on-year, the biggest upward pressure came from: transport (8.5 percent from 7.6 percent in January); food and non-alcoholic beverages (1.7 percent from 1 percent) and housing and utilities (5.9 percent from 7.4 percent). Prices also rose for: miscellaneous goods and services (1 percent from 1.4 percent); hotels, cafés and restaurants (1.3 percent from 1.2 percent); recreation and culture (1.3 percent from 0.9 percent); and clothing and footwear (0.9 percent, at the same pace as in January). Meanwhile, cost fell 0.4 percent for furnishings and household equipment (-0.2 percent in January).

Annual core inflation, which strips out volatile food and energy prices, was 1 percent, compared to a reading of 1.1 percent a month earlier. 

On a monthly basis, consumer prices fell 0.4 percent, following a 0.5 percent drop in January due to lower prices for clothing and footwear (-1.6 percent) and housing (-3 percent).

The EU-harmonised index rose by 3 percent on the year, but fell 0.3 percent on the month.

Spain Inflation Rate Confirmed At 3% In February

Yekaterina Guchshina |
3/14/2017 8:14:01 AM