Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain Inflation falls as recession worsens

Source: Bloomberg - Thu 13th Dec 2012
Spain Inflation falls as recession worsens

Spain's core inflation rate dropped last month from a four-4 year high as the euro region's 4th- largest economy was on track to shrink for a 6th consecutive quarter, easing pressure on prices.

Annual core inflation - which excludes energy and fresh food prices - fell to 2.3% from 2.5% a month earlier, the National Statistics Institute (INE) reported earlier today. That compares with a 2.2% median forecast of 4 estimates in a Bloomberg survey. Underlying prices rose 0.2% from October.

Spain is facing a deepening recession as PM Mariano Rajoy struggles to tackle a budget deficit that matches that of Greece as the euro-area's 2nd biggest after Ireland. The European Central Bank last week cut its 2013 inflation forecast for the region and left the door open for a benchmark interest rate cut as it sees the economy shrinking next year.

Spain's headline inflation rate, based on EU calculations, was 3%, matching an estimate published on November 30th. Excluding the impact of tax increases, the annual inflation rate was 0.9%, based on calculations by the Spanish Government.

Comment on this Story

 
Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs

 
Use the hair extensions pretty curling styling spray to evenly spray on the hair wigs part that wants to highlight the hair extensions uk curl, then use the curling iron to start at the horizontal line behind the ear, and the human hair extensions uk single layer is rolled, and the handsome yet playful hairstyle is born.