Spain Inflation Rises Less Than Estimate

(RTTNews) - Spain's consumer price inflation increased less than estimated in January but remained the highest in seven months, final data from the statistical office INE showed on Friday.

Consumer price inflation rose to 2.9 percent from 2.8 percent in December. Although the 2.9 percent was revised down marginally from the initial estimate of 3.0 percent, it was the highest since June 2024.

Due to the rise in fuel prices, transport cost advanced 1.3 percent and housing cost rose 7.9 percent on higher electricity prices.

Excluding unprocessed food and energy, underlying inflation came in at 2.4 percent, down from 2.6 percent in the previous month.

The EU harmonized inflation climbed to a 6-month high of 2.9 percent, as initially estimated, from 2.8 percent.

The statistical office confirmed that monthly consumer price inflation eased to 0.2 percent from 0.5 percent in December.

On a monthly basis, the harmonized index of consumer prices edged down 0.1 percent, in contrast to the 0.4 percent increase in December. The figure matched the initial estimate.