Spain Inflation Rises To 5.9% Amid Higher Food Costs
(RTTNews) - Spain's consumer price inflation rose more than initially estimated in January, largely driven by increased food costs, final data from the statistical office INE revealed on Wednesday.
The consumer price index climbed to 5.9 percent year-over-year in January, faster than the 5.7 percent gain in December. In the initial estimate, the rate of increase was 5.8 percent.
Likewise, EU harmonized inflation, based on the HICP, increased in January, to 5.9 percent from 5.5 percent a month ago. The inflation rate for January was revised up slightly from 5.8 percent.
Underlying consumer prices, excluding energy and unprocessed food, advanced at a faster pace of 7.5 percent in January after rising 7.0 percent in the previous month, as estimated.
Prices for food and non-alcoholic beverages alone surged 15.4 percent annually in December, and transport charges moved up 5.6 percent.
There was a 7.9 percent spike in prices for furniture and household equipment, and those for hotels, cafes and restaurants climbed 7.8 percent.
On a monthly basis, consumer prices fell 0.2 percent, in contrast to the 0.2 percent increase a month ago. According to flash data, the rate of drop was 0.3 percent.
At the same time, the harmonized index of consumer prices dropped 0.4 percent, revised from a 0.5 percent decline seen in the initial report.
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