2023.03.1410:26:00UTC+00Spain Inflation Rises Less Than Estimated In February

Spain's inflation rose slightly less than estimated in February, final data from the statistical office INE showed on Tuesday.

The consumer price index climbed 6.0 percent annually after the 5.9 percent rise in January. The rate was revised down from 6.1 percent estimated on February 28.

Likewise, underlying inflation advanced to revised 7.6 percent from 7.5 percent a month ago. The preliminary estimate showed an annual growth of 7.7 percent for January.

EU harmonized inflation, based on the harmonized index of consumer prices, rose to 6.0 percent from 5.9 percent in the previous month. This was also below the initial estimate of 6.1 percent.

Data showed that food and non-alcoholic beverages posted the biggest annual increase of 16.6 percent in February. This was followed by 8.4 percent rise in alcoholic beverages and tobacco prices and 7.9 percent increase in hotels, cafes and restaurants prices.

Meanwhile, hosing costs declined 6.2 percent from the last year.

On a monthly basis, consumer prices gained 0.9 percent, in contrast to the 0.2 percent fall in January. The monthly inflation was revised down from 1.0 percent.

The HICP moved up 0.9 percent, reversing the 0.4 percent decrease in January. The flash estimate was +1.0 percent.