Spain Inflation Rises On Energy Prices
Spain's consumer prices posted a faster growth in March reflecting increase in electricity and fuel prices, flash data from the statistical office INE showed on Wednesday.
The consumer price index advanced 3.2 percent on a yearly basis, following February's 2.8 percent rise. The rate came in line with expectations.
Excluding food and energy prices, underlying inflation softened to 3.3 percent from 3.5 percent a month ago.
The statistical office said electricity and fuel prices increased in March compared to a fall in the same period last year. At the same time, prices of food and non-alcoholic beverages increased less than in the same month of the previous year.
Data showed that monthly consumer price inflation doubled to 0.8 percent from 0.4 percent. Prices have been rising since January. Moreover, the increase exceeded economists' forecast of 0.6 percent.
Inflation, based on the harmonized index of consumer prices, climbed to 3.2 percent annually in March from 2.9 percent a month ago. This was slightly weaker than the forecast of 3.3 percent.
Month-on-month, the HICP moved up 1.3 percent following February's 0.4 percent increase. Prices were expected to rise 1.2 percent.
Economic News
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