Spain Inflation Rate Down to 2.4% in March


The annual variation of the CPI stands at 2.4 percent in the month of March, 0.4 percentage points down compared to the previous month. The annual variation of the HICP, in accordance with the Eurostat standards, is 2.6 percent.

The most influential groups in this annual variation are: transportation, which rose 0.7 percent, two points lower than in February, mainly due to lower prices fuels and lubricants this month and food and non-alcoholic beverages, which decreases its annual variation two tenths and stands at 2.6 percent. This behavior includes decreases in prices of fresh fish, poultry and eggs.

Despite the decline in the annual CPI rate, recreation and culture increased to 2.3 percent. This increase was mainly due to higher prices of package holidays and, to a lesser extent, recreational and sports services.
 
The annual growth rate of core inflation (overall index excluding unprocessed food and energy products) remains at 2.3 percent, thereby decreasing the difference with the overall index.

INE | Nuno Fontes | nuno@tradingeconomics.com
4/12/2013 8:48:11 AM