Spain: Inflation remains unchanged in March
April 12, 2011
In March, consumer prices added 0.7% over the previous month, well above the 0.1% increase recorded in February. Despite the pronounced price increase in March, annual inflation remained unchanged at February's 3.6%. The March print is in line with the preliminary estimate released by the Statistical Institute on 30 March and represents the highest level since October 2008. The monthly jump was the result of higher prices for clothing and footwear as well as transport, driven by rising fuel prices. The core inflation index, which does not include prices for unprocessed food and energy, rose 0.5% over the previous month, above the 0.1% increase in February. However, annual core inflation inched down from 1.8% in February to 1.7% in March.