14.04.202310:37:00UTC+00Spain Inflation Slows As Estimated In March

Spain's consumer price inflation to a 19-month low in March, as estimated, final data from the statistical office INE showed on Friday.

Consumer price inflation slowed to 3.3 percent in March, as estimated, from 6.0 percent in February. The latest rate was the lowest since August 2021 when it was at the same level.

The annual fall largely reflects the 16.2 percent decline in housing cost and 4.8 percent drop in transport cost. Meanwhile, food and non-alcoholic beverages prices showed the biggest annual growth of 16.5 percent.

On a monthly basis, overall consumer prices rose 0.4 percent, weaker than February's 0.9 percent increase. Monthly inflation also matched the flash estimate released on March 30.

Core inflation slowed only marginally in March, to 7.5 percent in March from 7.6 percent in February.

The harmonized index of consumer prices, or HICP, grew 3.1 percent after rising 6.0 percent in February. This was the lowest since July 2021.

Month-on-month, the HICP gained 1.1 percent, which was faster than the 0.9 percent rise a month ago. Both monthly and annual HICP rates matched preliminary estimate.