Spain closes 2023 with inflation of 3.1%

Inflation in Spain in December has been recorded at 3.1%, according to preliminary data published on Friday by National Statistics Institute (INE).

This figure is one tenth less than the consumer price index recorded in November.

The rate of growth of prices therefore close 2023 on a downward trend, driven mainly by stability in food prices compared to last year and cheaper energy than a year ago.

Core inflation - which does not take into account energy or food - has decreased more sharly in December to 3.8%, compared to 4.5% in November.

Definitive data will be published during January, when there will also be data for inflation in Catalonia available.