In December, Spain’s rate of annual inflation remained stable, with price rises staying above the wider eurozone average. According to the national statistics agency INE, the country’s consumer-price index rose by 3.3% on a yearly basis, the same rate as the previous month. This rate aligns with the expectations of economists polled by FactSet and is harmonized to European Union standards.
INE highlighted that fuel prices fell at a slower rate compared to the previous year, while electricity prices rose less steeply on a yearly basis and food prices remained largely stable. The core inflation, which excludes the more volatile effects of unprocessed food and energy, experienced a sharp slowdown from 4.5% in November to 3.8%, as reported by INE.
With an inflation rate above the eurozone average, which stood at 2.4% in November, Spain’s inflation rate demonstrated a faster decrease compared to many European neighbors earlier this year due to factors such as energy price transmission to consumers. However, it has climbed back up in the second half of the year.
