Madrid, May 14, 2024 (Financeflashnews) – Spanish inflation rose slightly to 3.3% in April 2024, reaching its highest level in three months, according to finalized data released by the Spanish National Statistics Institute (INE) on Tuesday. This confirms the preliminary estimate from late April. Rising energy, food, and housing costs were the main factors behind the acceleration in inflation.
Key points:
- Year-on-year inflation: 3.3% (April 2024) – slight increase from March 2024
- Highest inflation in three months
- Rising energy, food, and housing costs
- Core inflation: 2.9% (April 2024) – decrease from March 2024
- Month-on-month price increase: 0.7% (April 2024)
- Harmonised Index of Consumer Prices (HICP): 3.4% year-on-year, 0.6% month-on-month
Inflation details:
- Energy and food prices: increasing pressure on inflation. Rising gas prices had a significant impact.
- Core inflation (excluding energy and food): slight decrease to 2.9%, lowest level since January 2022.
- Month-on-month price increase: moderate acceleration to 0.7%.
- HICP: 3.4% year-on-year increase, in line with preliminary data.
Outlook:
Spanish inflation is expected to remain slightly above the ECB’s 2% target in the coming months. The development will depend on energy and food prices, as well as the global economic situation.
Additional Resources:
- Spanish National Statistics Institute (INE): https://www.ine.es/
