In November, Spain's consumer price inflation rose to its highest level in four months, matching initial estimates, according to the final data released by the statistical office INE on Friday. The inflation rate increased to 2.4 percent, up from 1.8 percent in October, consistent with the preliminary figures released on November 28.
The data indicated a slight decrease in core inflation—which excludes non-processed food and energy products—falling to 2.4 percent from the previous month's 2.5 percent, aligning with expectations. Housing prices saw an accelerated annual growth rate of 7.4 percent, up from 4.2 percent in October, largely due to rising electricity costs. Meanwhile, the reduction in transportation expenses moderated, with a decrease of only 1.0 percent compared to the 3.0 percent drop observed in October.
On a monthly basis, consumer prices saw a modest increase of 0.2 percent, a deceleration from the 0.6 percent rise recorded in October, as anticipated. Furthermore, the EU-harmonized inflation index also climbed to 2.4 percent from 1.8 percent the previous month. On a month-to-month comparison, the harmonized consumer price index remained unchanged, contrasting with the 0.4 percent increase noted in October, with figures remaining consistent with the preliminary estimate.
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