In Spain, inflation fell significantly in February. Consumer prices (HICP), calculated for European comparison purposes, rose by 2.9 percent on an annual basis, statistics agency INE announced on Thursday. On average, analysts had expected a slightly lower interest rate (2.8%).
In January inflation was considerably higher, at 3.5 percent. Inflation fluctuated sharply in Spain last year. After inflation fell to 1.6 percent in the summer, inflation rose noticeably again in the second half of 2023.
On a monthly basis, consumer prices rose by 0.4 percent in February. Analysts had expected an increase of 0.2 percent after prices fell 0.2 percent the month before.
We are approaching the ECB’s target value
In the eurozone’s fourth-largest economy, inflation is approaching the target of the European Central Bank (ECB), which aims for an inflation rate of 2 percent for the single currency area in the medium term. New inflation figures for the currency area are expected on Friday.
Source: Krone
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