FRANKFURT – Spanish consumer prices rose 9.8 percent year-on-year in March, according to the country’s statistics office called today.
That’s a sharp acceleration from the 7.6 percent recorded in February and the highest level since 1985, well before the introduction of the common currency.
“This development is due to general increases in most of its components,” the press release reads. “These included hikes in electricity prices, fuel and oil prices, and food and soft drink prices. [which are] higher this month than in March 2021.”
Harmonized for European conditions, inflation also rose by 9.8 percent.
Euro-zone inflation data for March is due to be released this Friday and is widely expected to come in above 6 percent as Russia’s war in Ukraine continues to push up energy and food prices.
https://www.politico.eu/article/march-inflation-hits-9-8-percent-in-spain/?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication March inflation hits 9.8 percent in Spain - POLITICO