Spain’s inflation up in Oct. ’24

Spain’s annual rate of change for the Harmonised Index of Consumer Prices (HICP) stood at 1.8 per cent in October, up by 0.3 per cent from the previous month.

Several groups significantly influenced this increase. Housing saw its annual variation rise to 4.2 per cent, up by 1.3 points from the previous month, primarily due to higher electricity and gas prices compared to a drop in the same period last year.

Transport’s annual rate increased by 0.9 to -3.0 per cent, driven by rising fuel and lubricant prices for personal vehicles.

Core inflation, which excludes unprocessed food and energy products, increased by 0.1 from September, reaching 2.5 per cent. The monthly rate of change for the general CPI in October was 0.6 per cent.

Clothing and footwear had the most significant positive impact on the monthly CPI rate, with an 8.5 per cent variation reflecting price behavior at the start of the autumn-winter season.

Food and alcoholic beverages also showed a 1.4 per cent variation due to higher fruit and vegetable prices.

Attribution: INE

Subediting: M. S. Salama