Financial News: Spain Inflation Rises On Energy Prices

Spain Inflation Rises On Energy Prices

03/27/2024 - 05:12:00 (RTTNews)

(RTTNews) - 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.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Eurozone Consumers' 12-Month Inflation Expectations Lowest Since Dec 2021 - ECB (11 hr(s), 43 min(s), 12 sec(s) ago)
(RTTNews) - Euro area consumers' inflation expectations for the next 12 months hit their lowes ...Full Story»

U.S. Consumer Sentiment Dips More Than Previously Estimated In April (12 hr(s), 47 min(s), 12 sec(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

U.S. Consumer Prices Rise 0.3% In March, Annual Growth Accelerates To 2.7% (13 hr(s), 37 min(s), 12 sec(s) ago)
(RTTNews) - Closely watched readings on inflation released by the Commerce Department on Friday sh ...Full Story»

Spain Unemployment Rate Rises In Q1 (14 hr(s), 05 min(s), 12 sec(s) ago)
(RTTNews) - Spain's unemployment rate increased at the start of the year, quarterly data from ...Full Story»

U.S. Consumer Prices Rise In Line With Estimates In March (14 hr(s), 24 min(s), 12 sec(s) ago)
(RTTNews) - Closely watched readings on inflation released by the Commerce Department on Friday sh ...Full Story»

Russia Central Bank Keeps Key Rate Unchanged (14 hr(s), 33 min(s), 12 sec(s) ago)
(RTTNews) - Russia's central bank left its key interest rates unchanged for the third consecut ...Full Story»

Austria Manufacturing Downturn Continues In April (15 hr(s), 43 min(s), 12 sec(s) ago)
(RTTNews) - Austria's manufacturing activity deteriorated further in April, though the pace of ...Full Story»

Eurozone Private Sector Credit Growth Remains Weak (16 hr(s), 14 min(s), 12 sec(s) ago)
(RTTNews) - Eurozone private sector credit continued to increase in March but the pace of recovery ...Full Story»