Inflation rises to 1.5%

The IPC Consumer Price Index in Spain increased by 1.1% during April from the data released today by the INE National Statistics Institute. This means that the annual rate now stands at 1.5% - the highest it has been since December 2008.

The largest increases came from clothes and footwear, up 9.5%, transport up 1.5% with housing increasing by 0.7%.

Underlying inflation, which excludes food and energy prices, decreased by 30%, now standing at -0.1% in April, taking it back into negative figures for the first time since August 1986 when the index first came into effect.