Spain's consumer price inflation accelerated further in February to the highest level in eight months amid an increase in electricity costs, the flash data published by the statistical office INE showed on Thursday.
Consumer price inflation rose slightly to 3% in February, as expected, from 2.9% in January. Further, this was the highest inflation since June 2024, when prices had risen 3.4%.
The EU harmonized inflation held steady at 2.9% in February versus an expected rate of 2.8%. The statistical office said the increase in annual inflation largely reflects the increase in electricity prices compared to the fall in February 2024.
Meanwhile, underlying inflation eased to 2.1% from 2.4% a month ago.
On a monthly basis, consumer prices increased 0.4%, following a 0.2% drop in January. Prices were expected to increase by 0.3%. The harmonized index rebounded 0.4%, as expected.
