INE confirms Spain's March inflation aligns with initial estimates

Madrid, April 12, 2024, Spain's consumer price inflation for March remained consistent with initial estimates, as reported by the statistical office INE on Friday. The data revealed a year-on-year increase of 3.2% in the consumer price index, up from February's 2.8% rise, aligning with the flash data published on March 27.

When excluding food and energy prices to gauge underlying inflation, there was a slight easing to 3.3% from the previous month's 3.5%, as anticipated.

One notable area of growth was housing costs, which saw a faster annual rate of 4.2% in March compared to a 2.7% increase in February. This surge was primarily attributed to elevated electricity expenses, reflecting ongoing trends in energy costs impacting consumer inflation.