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Spain Inflation eases slightly in March

Wed 27th Mar 2013
Spain Inflation eases slightly in March

Provisional figures published by the National Institute of Statistics earleir today have shown Spain's rate of inflation eased slightly during March.

The initial report - which will be confirmed in around 2 weeks time - revealled how consumer prices have climed 2.6% from the start of the year until the end March, down from 2.8% at the end of February.

"This result is mainly a consequence of the decrease in the prices of fuels and lubricants," it said in a statement.

Meanwhile, consumer prices increased by 0.4% in March compared to February.

Inflation in Spain increased after the government raised the top rate of IVA from 18% to 21% in September 2012 to generate much-needed revenues for the treasury.

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