Spain Inflation At 7-Month Low

(RTTNews) - Spain's consumer price inflation eased to a seven-month low in January, flash estimate from the statistical office INE revealed on Friday.

The consumer price index rose 2.4 percent year-on-year in January, which was slower than the 2.9 percent increase in December. This was the slowest rate since last June and matched economists' expectations.

Meanwhile, underlying inflation that excludes prices of unprocessed food and energy, remained unchanged at 2.6 percent in January.

Overall consumer prices dropped 0.4 percent in January from December, marking the first fall in four months. Economists were forecast a 0.3 percent fall after rising 0.3 percent in December.

Further, data showed that EU harmonized inflation eased less-than-expected to 2.5 percent from 3.0 percent in December. The rate was seen at 2.4 percent.

Month-on-month, the harmonized index of consumer prices dropped 0.7 percent, in contrast to the 0.3 percent rise in December.