Spain Falls Further Into Deflation

Spanish consumer prices fell for the fifth consecutive month by 0.4 percent year-on-year in November of 2014, compared to a 0.1 percent drop in October driven by a fall in fuel and electricity cost. The figure matched preliminary estimates.
Joana Taborda | joana.taborda@tradingeconomics.com
12/12/2014 12:49:12 PM
The biggest price decreases were reported for transport (-1.7 percent) due to lower prices of fuel and lubricants;
recreation and culture (-1.5 percent) and communication (-5.8 percent). The cost of housing, electricity and water remained the same though the electricity prices fell.

In contrast, education cost increased 1.3 percent, miscellaneous goods and services went up by 1.2 percent; alcoholic beverages and tobacco and clothing and footwear rose 0.4 percent each and food prices increased 0.2 percent.

On a monthly basis, prices were down 0.1 percent in November compared with 0.5 percent growth in the previous month. 

The EU-harmonized index decreased 0.5 percent year-on-year and 0.2 percent month-over-month.

Spain Falls Further Into Deflation