(Adds food prices increase, details)
MADRID, March 14 (Reuters) - Spanish consumer prices
rose 6.0% in the 12 months through February, up from 5.9% in the
period through January, final data released by the National
Statistics Institute (INE) showed on Tuesday.
The final reading was lower than the 6.1% flash estimate
released by INE two weeks ago. Analysts polled by Reuters had
also seen 12-month inflation through February at 6.1%.
Fresh food prices recorded a significant rise in February,
up 16.6% year-on-year, one point higher than in January, driven
by rises in vegetables, legumes and meat.
The government approved a reduction in VAT on some basic
food products at the beginning of the year, but although Economy
Minister Nadia Calvino said the shopping basket had begun to
stabilise, food prices have continued to rise.
Compared to the previous month, food prices rose 2%.
Processed food registered the highest increase with a 16.8%
rise, pushing core inflation, which strips out volatile fresh
food and energy prices, to 7.6% year-on-year, up from 7.5% a
month before.
The core inflation rate was at its highest level since INE
started reporting it in 2002.
The 12-month European Union-harmonised price was also
revised down to 6.0% from a flash estimate of 6.1%, INE said.
(Reporting by Tiago Brandao and Belén Carreño; Editing by Inti
Landauro and Jan Harvey)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.