Inflation in Spain climbs to 2.8% in December, rising four-tenths

Spain's estimated annual inflation rate for December, as measured by the Consumer Price Index (CPI), stands at 2.8%, according to preliminary data released on Monday by the National Statistics Institute (INE).

This marks a four-tenths increase from the November rate, which was 2.4%, largely due to rising fuel prices.

To a lesser extent, the increase is also attributed to higher prices in leisure and cultural activities, which rose more sharply than in the final month of 2023.

In December 2023, annual inflation closed at 3.1%.

The estimated annual rate of core inflation, which excludes food and energy products, rose by two-tenths to 2.6%. Core inflation has risen four-tenths since November.