2023.12.2909:28:00UTC+00Spain Inflation Unexpectedly Slows In December

Spain consumer price inflation unexpectedly slowed in December, the flash estimate from the statistical office INE revealed on Friday.

Consumer price inflation softened to 3.1 percent from 3.2 percent in the previous month, while the rate was expected to climb to 3.4 percent.

Underlying inflation weakened for the fifth consecutive month in December. The core inflation was 3.8 percent, down from 4.5 percent in November.

At the same time, EU harmonized inflation held steady at 3.3 percent in December. This was below economists' forecast of 3.6 percent.

On a monthly basis, the consumer price index remained flat after a 0.3 percent fall in November. The index was forecast to gain 0.3 percent.

The harmonized index of consumer prices also remained unchanged after falling 0.5 percent a month ago.