Spain annual inflation rises in Dec. ’24

Spain’s annual inflation rate increased to 2.8 per cent in December 2024, up from 2.4 per cent in November, according to a flash estimate from the Spanish Statistical Office on Monday. 

The rise is attributed primarily to higher fuel prices compared to the same period in 2023, alongside increases in leisure and culture costs.

Core inflation, which excludes non-processed food and energy products, climbed to 2.6 per cent, marking a two-tenths increase from November. Monthly consumer prices rose by 0.4 per cent in December compared to the previous month.

The Harmonized Consumer Price Index (HCPI), aligned with EU standards, also saw an annual increase to 2.8 per cent, with a monthly rise of 0.4 per cent. Final inflation figures are expected to confirm these estimates.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser