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Further Increase In Spanish Inflation

Tue 15th Feb 2011

Spain's Consumer Price Index rose at the beginning of the year to stand at 3.3%, according to figures published by the Spanish National Institute of Statistics (INE) earlier today.

Prices are now rising in Spain at the fastest rate since October 2008, when it stood at 3.6%, due to a number of different factors.

The main reason behind the rise in inflation is the hike in the price of electricity in Spain at the start of the New Year: electricity prices are now 15 percent higher in Spain than they were at the beginning of 2010.

Increased prices for alcoholic drinks and cigarettes, which have increased in price by 0.9% in the last month, have also affected prices, as has a rise in house prices.

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