Spain Inflation Rate Confirmed At 0.7% In November



Spanish consumer prices rose 0.7 percent year-on-year in November 2016, at the same pace as in the previous month and matching preliminary estimates. It was the third straight month of gains and the highest inflation rate since August 2013, mainly driven by an increase in a cost of food and hotels and restaurants. On a monthly basis, consumer prices went up 0.4 percent, above preliminary estimates of 0.3 percent.

Prices rose at a faster pace for  food and non-alcoholic beverages (+0.4 percent vs +0.3 percent in October) and restaurants, cafes and hotels (+1.3 percent vs +1.2 percent). Also, cost fell less for recreation and culture (-1.6 percent vs -1.9 percent). Meanwhile, transport prices increased at a slower 1.4 percent (+1.7 percent in October). Inflation was steady for miscellaneous goods and services (+1.9 percent); clothing and footwear (+0.9 percent); communications (+3.2 percent); housing (-0.4 percent); and health (-0.2 percent).

Core inflation, which strips out volatile food and energy prices, was recorded at 0.8 percent, the same pace as in the prior month.

The harmonized index increased by 0.5 percent year-on-year, at the same pace as in the previous month. The monthly index went up 0.2 percent,  after growing 0.8 percent in a month earlier.

Spain Inflation Rate Confirmed At 0.7% In November


Inee l Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/13/2016 8:27:33 AM