Spanish prices hold steady in December as core annual inflation drops

(Sharecast News) - Spanish inflation remained unchanged in December, according to flash estimates released on Friday by the National Statistics Institute. The consumer price index was unchanged this month, after a 0.3% fall in November, surprising economists who had pencilled in a 0.3% increase in prices.

The annual increase in prices, meanwhile, slowed to 3.1% in December after a 3.2% gain in November, coming in below the consensus forecast of 3.3%. This was the lowest rate of annual inflation since August.

Core inflation, which excludes volatile items like food and energy, declined to 3.8% from 4.5% the month before, dropping to its lowest since March 2022.