La sagrada familia in Spain

Spain Inflation December 2022

Spain: Harmonized inflation falls to lowest level in over a year in December

Harmonized inflation dropped to 5.6% in December, following Novembers 6.7%. December’s reading represented the fifth consecutive month of declining inflation and the lowest print rate since November 2021. Reduced price pressures for fuels and electricity were mainly behind the reading.

The trend pointed down, with annual average harmonized inflation coming in at 8.3% in December (November: 8.4%). However, core inflation jumped to 6.9% in December from 6.3% in November, marking the highest reading since 1992. Meanwhile, consumer price inflation fell to 5.8% in December, from Novembers 6.8%.

Lastly, harmonized consumer prices rose 0.11% in December over the previous month, contrasting the 0.33% decrease seen in November.

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