Categories: Economy

Spanish inflation at lowest level in over a year Related articles

Inflation in Spain fell to 3.3 percent, according to the national statistics agency INE. That’s almost half the figure from a month ago. The economy appears to be benefiting from falling energy prices. Core inflation excluding food and energy eased slightly to 7.5% and remains elevated.

Inflation in Spain fell to 3.3%. That’s nearly half the figures from a month ago. (Unsplash)

This brings the inflation rate in Spain to its lowest level since August 2021. In addition to the drop in energy prices, the measures taken by the Spanish government also play a role in reducing inflation. Since the beginning of this year, the VAT on bread, milk, fruit and vegetables has been reduced. Despite this, the price of food increased by more than 16% on average in February.

Problem not solved

Calculated according to EU standards, Spanish inflation fell to 3.1%. However, experts warn that the inflation problem is not over. “It’s kind of an illusion, because core inflation is still high,” an economist told El País newspaper. ‘The fall will be less abrupt in the coming months.’

Author: John Luke
Source: BNR

Andrew

Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.