Spain: Inflation remains steady in November
November 12, 2010
In November, consumer prices increased 0.5% over the previous month, which came in below the 0.9% price rise recorded in October. Annual inflation remained unchanged from the October reading of 2.3%, which marked the highest value since December 2008, and was a notch above the 2.2% preliminary estimate released by the Statistical Institute on 29 November. The monthly price rise was mainly driven by higher prices for clothing and footwear (+4.8% month-on-month), as well as transport (+0.9% mom). In contrast, prices for leisure and recreation dropped 0.9% over the previous month. The core inflation index, which does not include prices for unprocessed food and energy, rose 0.5% over the previous month. Annual core inflation inched up to 1.2% from 1.1% in October.