In October, consumer prices increased 0.9% over the previous month, which came in well above the 0.1% price rise recorded in September. Due to the price spike, annual inflation rose from 2.1% in September to 2.3%, which was a notch above the 2.2% preliminary estimate released by the Statistical Institute on 29 October and in fact marked the highest value since December 2008. Inflation continues to increase, as businesses try to pass on the two percentage point VAT increase implemented in July this year, despite an unemployment rate of 20% and declining consumption. The monthly price rise was mainly driven by higher prices for clothing and footwear (+9.8% month-on-month). In contrast, prices for leisure and recreation dropped 0.8% over the previous month. The core inflation index, which does not include prices for unprocessed food and energy, rose 0.9% over the previous month. However, annual core inflation remained unchanged at September's 1.1% rise. More recent data point to a rise in inflationary pressures. According to a preliminary estimate released by INE on -- November, annual inflation increased to 2.-% in November, which is the highest level in nearly two years.
Inflation inched up in October
November 12, 2010
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Spain Economic News
October 7, 2016
In August, industrial production expanded 4.0% from the same month last year in working-day adjusted terms.
October 5, 2016
The Markit Purchasing Managers’ Index (PMI) Composite Output Index came in at 54.1 in September, which was slightly below August’s 54.8 reading.
September 30, 2016
Spain’s current account balance incurred a surplus of EUR 3.0 billion in July, which was above the EUR 2.7 billion surplus recorded in the same month of last year and marked the highest reading since December 2014.
September 29, 2016
In August, retail sales rose 4.9% over the same month last year as the discount season drew to an end.
September 29, 2016
In July, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 6,267 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento).