Spain inflation rate accelerates to four-month high

Spain's annual inflation rate climbed to a four-month high of 2.4% in November 2024, up from 1.8% in October, matching market expectations, according to preliminary estimates.

Spain inflation rate accelerates to four-month high

The increase was primarily driven by higher electricity and fuel prices, in contrast to a decline in prices in November of the previous year. The core inflation rate, which excludes volatile items like food and energy, eased slightly to 2.4% in November, down from 2.5% in October.

Monthly figures

On a monthly basis, consumer prices rose by 0.2% in November, a slowdown from the 0.6% increase in October. Meanwhile, the EU-harmonized CPI also rose by 2.4% year-on-year, in line with market expectations, and remained flat month-over-month, compared to the anticipated 0.2% increase.