Spain: Inflation inches down in October
November 15, 2011
Detailed data for October showed consumer prices increasing 0.8% over the previous month, which was markedly faster than the 0.2% increase in September. The monthly increase was mainly the result of higher prices for clothing and footwear as well as housing. Despite the pronounced price increase in October, annual inflation inched down from 3.1% in September to 3.0% in October, which corroborated the preliminary estimate released by the Statistical Institute on 28 October. The core inflation index, which does not include prices for unprocessed food and energy, rose 1.0% in October, which followed a 0.2% increase in September and marked the largest monthly increase since April. Nevertheless, annual core inflation remained unchanged at September's 1.7% rate.