Spain: Inflation accelerates in April
May 12, 2011
In April, consumer prices added 1.2% over the previous month, which was above the 0.7% increase recorded in March and marked the largest monthly increase since October 2007. As a result of the pronounced price increase, annual inflation rose to 3.8% from 3.6% in March. The April figure is in line with the preliminary estimate released by the Statistical Institute on 29 April and represents the highest reading in more than two years. The monthly jump was the result of higher prices for clothing and footwear as well as for transport. The core inflation index, which does not include prices for unprocessed food and energy, rose 1.3% over the previous month, well above the 0.5% increase recorded in March. Consequently, annual core inflation rose from 1.7% in March to 2.1% in April, the highest level since January 2009. According to a preliminary estimate released by INE on 30 May, annual inflation dropped to 3.5% in May, the highest level since.