UPDATE 1-Spanish annual inflation rises in April to 4.1%

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details) May 12 (Reuters) - Spanish national consumer prices were up 4.1% year-on-year in April, final data released by the National Statistics Institute showed on Friday, up from 3.3% in March. The final reading confirmed the 4.1% flash estimate released by INE two weeks ago. The increase in annual inflation was mainly driven by higher electricity and fuel prices, which more than offset a fall in prices of food and non-alcoholic beverages, INE said. April's monthly inflation, at 0.6%, was mainly influenced by higher prices for clothing, footwear and hotels and restaurants.


The 12-month European Union-harmonised price also confirmed the flash estimate at 3.8%.


Core inflation, which strips out volatile food and energy prices, was at 6.6% year-on-year, down from a reading of 7.5% a month earlier. The Spanish central bank expects inflation will end the year at 3.7%, compared to 5.8% at the end of 2022.
(Reporting by Marta Serafinko; editing by Inti Landauro and Kevin Liffey)

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