Spain Inflation Rises To 3.0%, Highest In 8 Months

(RTTNews) - Spain's consumer price inflation accelerated further in February to the highest level in eight months amid an increase in electricity costs, the flash data published by the statistical office INE showed on Thursday.

Consumer price inflation rose slightly to 3.0 percent in February, as expected, from 2.9 percent in January.

Further, this was the highest inflation since June 2024, when prices had risen 3.4 percent.

The EU harmonized inflation held steady at 2.9 percent in February versus an expected rate of 2.8 percent.

The statistical office said the increase in annual inflation largely reflects the increase in electricity prices compared to the fall in February 2024.

Meanwhile, underlying inflation eased to 2.1 percent from 2.4 percent a month ago.

On a monthly basis, consumer prices increased 0.4 percent, following a 0.2 percent drop in January. Prices were expected to increase by 0.3 percent. The harmonized index rebounded 0.4 percent, as expected.