News
Timothy A. Price
- February 29, 2024
In February, Spanish inflation saw a decline due to lower electricity prices, dropping below 3% for the first time since August.
Key Details:
- Consumer-Price Index: Rose by 2.9% annually in February
- Comparison: Down from a 3.5% increase in January
- Expectations: Economists polled by The Wall Street Journal expected inflation to tick down to 3.0%
- European Central Bank Target: Inflation remains above the target of 2%
- Factors: Drop in electricity prices and stable food prices contributed to the decrease
- Fuel Prices: Increased compared to the same period last year
Core Inflation:
- Definition: Strips out volatile effects of unprocessed food and energy prices
- February Data: Core inflation slowed to 3.4% from 3.6%
Other European Countries:
- France: Saw a slowdown in inflation in February
- Euro Area: Data for the 20-nation euro area set to be published on Friday
The latest numbers suggest a shift in Spain's inflation trajectory, with various factors influencing the overall trend.
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