Spain Inflation Rises More Than Forecast

(RTTNews) - Spain inflation accelerated more than expected in October due to higher fuel prices, the flash estimate from the statistical office INE showed Wednesday.

The consumer price index rose at a pace of 1.8 percent annually after September's 1.5 percent increase. The rate was also above economists' forecast of 1.7 percent.

Underlying inflation rose slightly to 2.5 percent from 2.4 percent in the previous month.

On a monthly basis, the consumer price index gained 0.6 percent, offsetting a 0.6 percent fall in September.

EU harmonized inflation also came in at 1.8 percent, up from 1.7 percent a month ago. Month-on-month, the harmonized index of consumer prices climbed 0.4 percent, reversing a 0.1 percent drop in September.

The annual increase in HICP matched expectations and the monthly growth was seen at 0.3 percent.