MADRID, April 11 (Xinhua) -- Spanish inflation rate fell to 2.3 percent in March year-on-year, halting a five-month upward trend, the Statistical Office (INE) said on Friday. This also marks the lowest level since October 2024.

The rate is accredited to the decrease in cost of electricity, fuel, lubricants and package holidays for the coming months.

Welcoming the figure, the Spanish Ministry of Economy, Trade, and Enterprise highlighted the "high international uncertainty," as the world is bracing for the repercussions of a trade war initiated by U.S. President Donald Trump.

But the ministry noted that Spain "remains the fastest-growing major economy in the eurozone," The data, it said, demonstrate that it is possible to sustain economic growth while achieving "price moderation and gains in citizens' purchasing power."

Core inflation, which excludes the more volatile unprocessed food and energy costs, dropped by 0.2 percent to 2 percent, the lowest since November 2021 when it stood at 1.7 percent. Enditem

Related

Go to Forum >>0 Comment(s)