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Spain's consumer prices fall by 0.7 pct in October

Source: Xinhua - Fri 13th Nov 2015
Spain's consumer prices fall by 0.7 pct in October

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

According to the INE, prices of transport fell by 5.7% in October compared to the same month of a year earlier due to lower prices of fuel and lubricants, which had a big impact on October's annual inflation rate.

Spain's prices have been falling for 3 consecutive months on a year-on-year basis after having fallen by 0.4% and 0.9% in August and September respectively.

On a month-to-month basis, Spain's prices rose by 0.6% from September to October.

The rise was mainly due to higher prices of clothing and shoes that increased by 11.1% and prices of food and non-alcoholic drinks that rose by 0.6%.

On the other hand, prices of transport fell by 0.6%, prices of items related to housing fell by 0.4% and those related to leisure and culture and the hotel industry fell by 0.9% and 0.3% respectively.

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