Spain: Inflation falls to 18-month low
March 29, 2012
According to a preliminary estimate released by the National Statistical Institute (INE) on 29 March, annual inflation inched down from 2.0% in February to 1.9% in March, its lowest level since September 2010. INE will release a complete set of data on 13 April. Detailed data for February showed consumer prices adding 0.1% over the previous month, which contrasted the 1.1% drop recorded in January. The monthly reading was mainly the result of higher prices for food and alcoholic beverages, which was nearly offset by lower prices for housing as well as for leisure. The core inflation index, which does not include prices for unprocessed food and energy, remained flat over the previous month, contrasting the 1.7% decline recorded in January. Annual core inflation inched down from 1.3% in January to 1.2% in February, its lowest level in over a year.