Spain's year-on-year inflation remains at 4.9% in October, according to preliminary data from the INE. In the Eurozone, it rises to 4%, according to Eurostat.
Inflation in Spain stands at 4.9% in October, according to preliminary data from the INE, and it fails to drop below this figure. According to news from noticiastrabajo.es, the HICP, the harmonised index that allows comparison with Europe, decreases by just one-tenth, from 5% to 4.9%.
In the Eurozone, Eurostat places the year-on-year inflation at 4%, two-tenths higher than in September, when it was at 3.8%. The gap with Spain is, therefore, nearly one point.
Energy is the main factor driving the increase across the Eurozone, with fuel and electricity prices rising by 20.8% year-on-year. Services register a 3.3% increase, while food, alcohol, and tobacco see a 1.6% rise.
The Bank of Spain has been indicating for months that the Spanish CPI is growing faster than the European average. In September, the difference was 1.22 points, with services accounting for 0.64 points of that gap, ahead of food (0.31) and energy (0.24).
Core inflation, which excludes the most volatile components like energy or some food items, stands at 3.1% in Spain, compared to 2.5% in the Eurozone in October.
For families, a rate of 4.9% means that consumer goods and services cost 5% more than a year ago, having a direct impact on shopping baskets and fuel expenses.
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