Spain's Inflation Highest Since 2013

 

Spain's inflation more than doubled to the highest level in 41 months in December, according to flash data from the statistical office INE, published Friday.

Inflation rose more-than-expected to 1.5% in December from 0.7% in November. This was the highest since July 2013, when inflation was 1.8%.

Prices were expected to climb 0.9% in December. Prices have increased for the 4th consecutive month.

On a monthly basis, the consumer price index advanced 0.6% versus a 0.3% fall in the same period of 2015. Economists had forecast a marginal 0.1% rise.

At the same time, the harmonized index of consumer prices increased 1.4% versus a 0.5% rise in November. The annual rate was also faster than the expected 1.0%.

Month-on-month, the HICP gained 0.5% compared to the expectations of 0.1%.

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