Spain Inflation Remains Stable At 2.3%

(RTTNews) - Spain's consumer price inflation held steady in February after easing to a 7-month low in January, a flash estimate from the statistical office INE revealed on Friday.

The consumer price index rose 2.3 percent year-on-year in February, the same as in the previous month. The expected inflation rate was 2.2 percent.

Meanwhile, underlying inflation that excludes prices of unprocessed food and energy rose to an 18-month high of 2.7 percent from 2.6 percent in January.

The rise in prices was curbed by a drop in electricity costs, while the slowdown in inflation was hindered by the upward influence of fuels and lubricants for personal vehicles, restaurants and accommodation services, and food and non-alcoholic beverages.

On a monthly basis, consumer prices rebounded 0.4 percent in February, following a 0.4 percent fall in January.

Further, data showed that EU harmonized inflation rose slightly to 2.5 percent from 2.4 percent in January. Meanwhile, the inflation was expected to slow to 2.3 percent. Month-on-month, the harmonized index of consumer prices climbed 0.4 percent, in contrast to the 0.8 percent decrease in January.