2023.12.1409:24:00UTC+00Spain Inflation Confirmed At 3.2%

Spain's consumer price inflation moderated as estimated in November after remaining stable in the previous month, the statistical office INE said Thursday.

The consumer price index rose 3.2 percent year-over-year in November, slower than the 3.5 percent increase in October. That was in line with the flash data published earlier.

At the same time, underlying inflation, which excludes non-processed food and energy products, eased to 4.5 percent from 5.2 percent in October, as estimated.

Prices of food and non-alcoholic beverages grew 9.0 percent annually in November, though slower than the 9.5 percent growth in the prior month. On the contrary, housing costs dropped 5.7 percent.

On a monthly basis, overall consumer prices fell 0.3 percent, reversing a 0.3 percent rise in the prior month. In the initial estimate, the rate of decline was 0.4 percent.

EU-harmonised inflation softened to 3.3 percent from 3.5 percent a month ago. The rate for November was revised up sligthly from 3.2 percent.

Month-on-month, the harmonised index of consumer prices posted a 0.5 percent decrease versus a 0.3 percent gain in October. In the initial report, the rate of fall was 0.6 percent.