Spain's Inflation Rate Shows a Modest Decline

In a recent update from Spain's National Statistics Office (INE), the annual inflation rate for April was confirmed at 2.2%, a slight decrease from March's 2.3%. This final figure aligns with the preliminary readings, indicating a consistent trend.

Key Factors Behind the Inflation Slowdown

The deceleration in inflation was primarily influenced by two sectors: housing and transport. Housing prices saw an annual rate decrease of 1.5%, settling at 4.2%, while transport prices experienced a negative annual variation of 1.6%, marking a 0.7% drop from the previous month.

Monthly and Core Inflation Insights

On a monthly basis, consumer prices rose by 0.6%. The Harmonized Index of Consumer Prices (HICP) recorded a year-on-year increase of 2.2% and a 0.5% rise from December. Additionally, the core inflation rate, which excludes volatile items like unprocessed food and energy, remained stable at 2.4% annually.