Spanish Inflation Holds Steady in December
29 December 2023 - 8:36AM
Dow Jones News
By Joshua Kirby
The rate of annual inflation in Spain held steady in December,
keeping price rises stable but above the wider eurozone
average.
The country's consumer-price index rose by 3.3% on a yearly
basis, the same rate as a month earlier, according to figures set
out Friday by national statistics agency INE. The rate is
harmonized to European Union standards and was in line with the
expectations of economists polled by FactSet.
Fuel prices fell at a slower rate than they did a year earlier,
INE said, while electricity prices rose less steeply on year and
food prices were largely stable.
Core inflation, which strips out the more volatile effects of
unprocessed food and energy, slowed sharply to 3.8% from 4.5% in
November, INE said.
Spanish inflation is now riding above the eurozone average,
which reached 2.4% in November. The country's inflation rate eased
more quickly this year than many European neighbors as a result of
factors including the way energy prices reach consumers, but had
climbed back up in the second half of the year.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
December 29, 2023 03:21 ET (08:21 GMT)
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