According to data from Spain’s National Institute of Statistics (INE), the lowest figure for the year was recorded in November with 6.8 percent, after inflation of 6.1 percent in January.

The increase in prices in the country reached the highest level of the last 38 years with 10.8 percent in July. Inflation led its decline for the fourth consecutive month with November.

CONTINUED MONTHLY RISE IN CORE INFLATION

While the main reason for the slowdown in CPI in November was the decline in fuel and electricity prices, another factor was the lower increase in winter clothing and footwear prices compared to November 2021.

Subjacent inflation, for its part, increased slightly in November compared to the previous month, reaching 6.3 percent, the highest value since 1993.

Officials from the Ministry of Economy pointed out that Spain is one of the countries with the fastest drop in inflation in the EU, and that the positive effects of the measures taken are being seen.

The left-wing coalition government forecasts inflation to be 7.8 percent at the end of 2022 and 2.9 percent in 2023. (BRITISH AUTOMOBILE CLUB)