Inflation in Spain Reaches Highest Level in 37 Years
Spain’s annualized inflation rate surged to 9.8% in March, the highest since 1985
The National Institute of Statistics of Spain announced in a press release that the Consumer Price Index for March as rising to 9.8 percent due to increases in the cost of electricity, gasoline and food.
Hoy el @es_INE ha publicado los datos del #IPC correspondientes a marzo de 2022.
¿Necesitas actualizar una renta anual con el #IPC?
🧮 Con esta herramienta es más fácil: https://t.co/xR0T7mElmd
Puedes acceder a la información relativa al IPC en: 👉 https://t.co/2H4x1n7BbW#INE pic.twitter.com/nOhHk5ZtuY— INE España (@es_INE) April 13, 2022
The figure marks a significant acceleration from the 7.6 percent recorded in February and the highest level since 1985, well before the introduction of the common currency.
“This development is due to generalized increases in most of its components,” the release said.
“These included increases in electricity prices, in fuels and oil prices, and in food and non-alcoholic beverages prices, [which are] higher this month than in March 2021.”
Harmonized for European standards, inflation was also up by 9.8 percent.