Spain’s inflation rate has eased markedly in November due to lower fuel and electricity prices. Consumer prices rose 6.6% in November compared with the same month a year earlier by European Union-harmonized standards, easing from the 7.3% increase registered in October, preliminary data from the Spanish statistics office INE showed Tuesday. This is the lowest level since January.
The reading is below the 7.4% forecast by economists polled by The Wall Street Journal. Measured by national standards, consumer prices rose 6.8% on year, down from 7.3% in October. Core inflation–which excludes the more volatile categories of food and energy–was at 6.3% on year in November, up from 6.2% in October. On a monthly basis, Spain’s consumer prices fell 0.1% by national standards and declined 0.5% by EU-harmonized standards. Write to Maria Martinez at [email protected]