Spain’s inflation rises in Dec. ’24

Spain’s inflation saw a notable increase in December 2024, with the annual rate of the national Consumer Price Index (CPI) rising to 2.8 per cent, up from 2.4 per cent in November, according to the Spanish Statistical Office.

The increase was primarily driven by higher prices for transport, leisure, and culture. Transport costs rose 0.6 per cent annually due to higher fuel prices, while the leisure and culture sector saw a 3.2 per cent annual increase, largely due to pricier tourist packages.

Core inflation, excluding unprocessed food and energy, also edged up to 2.6 per cent in December, two-tenths higher than in November.

The monthly Consumer Price Index (CPI) increased by 0.5 per cent, with significant contributions from leisure and culture, housing, and transport.

Regionally, the Basque Country recorded the highest annual CPI rate at 3.6 per cent, while the Canary Islands posted the lowest at 2.2 per cent.

The Harmonised Index of Consumer Prices (HICP) matched the national CPI, rising by 2.8 per cent annually and 0.4 per cent monthly.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser