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Spain's consumer prices rise 0.7 pct in Oct

Source: Xinhua - Tue 29th Nov 2016
Spain's consumer prices rise 0.7 pct in Oct

Spain's consumer prices rose 0.7% in October when compared with the same month of a year earlier, according to data of the Consumer Price Index (CPI) which was confirmed by Spain's Statistical Office (INE) on Tuesday.

The figure is 0.5% higher than the annual inflation rate of September when prices rose by 0.2% year-on-year and coincided with the advanced data provided by the INE by the end of October.

The figure is also the highest since August, 2013.

According to the INE, prices of items related housing fell by 0.4%, prices of transport rose by 1.7%, prices offood and non-alcoholic rose by 0.3% and those of items related to leisure and culture fell by 1.9%.

The Spanish annual inflation rate has been rising for two consecutive months year-on-year after rising by 0.2% in September and 0.7% in October. September marked the first positive rate in 9 months.

Meanwhile, on a month-to-month basis, prices of clothes and shoes rose by 11.2%, prices of items related to housing increased by 2.1% and those of transport rose by 1.2%.

On the other hand, prices of items related to leisure and culture fell by 1.3% and those related to the hotel industry fell by 0.2%.

Recommended Reading :

* Spanish Economy to maintain growth rate in 4th quarter : Economy Minister

* Spain to update growth projections, hike 2017 forecast

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