Spain: Harmonized inflation rises in March
Harmonized inflation rose to 3.3% in March from 2.9% in February. March’s acceleration was mainly due to a rebound in prices for housing and utilities—due to an increase in VAT for electricity—and faster increases in prices for transportation and recreation and culture.
The trend was stable, with annual average harmonized inflation coming in at February’s 3.0% in March. Meanwhile, core inflation fell to 3.3% in March from 3.5% in February, marking the lowest rate since February 2022.
Lastly, harmonized consumer prices jumped 1.35% in March over the previous month, following February’s 0.39% increase.