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Spanish Inflation highest in 2 years

Thu 12th May 2011

The underlying rate of inflation in Spain increased dramatically last month according to recent figures released by the INE - The National Institute of Statistics.

The growth came at the fastest rate seen in over two year, which could suggest a further increase in the cost of living, and there are signs that the ECB will continue to raise interst rates.

Commodity costs, excluding energy and fresh food, jumped by 2.1% on April 2010, following a 1.7% increase in March - the highest rate since December 2008.

Overall inflation stood at 3.5%, confirming preliminary figures released at the end of April.

The ECB raised interest rates in April for the first time in almost three years, as the Eurozone has already broke through it's 2% ceiling - reaching 2.8% last month.

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