# Spain’s 12-month inflation slows down again in December to 5.8%
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-12-30
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Spanish consumer prices rise 5.8% in December - slowest
Meta Description: Spanish consumer prices increased by 5.8% in December, with core inflation higher at 6.9%. Economy Minister Calviño sees positive trends. Learn more.
URL: https://financedigest.com/spains-12-month-inflation-slows-down-again-in-december-to-5-8html

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-12-30t081728z1lynxmpeibt054rtroptp4spain-economy-inflation-1736814656801-compressed.jpg)

(Reuters) -Spanish consumer prices rose 5.8% in December – at their slowest annual pace this year, thanks to lower electricity prices compared to a year ago, flash data from the National Statistics Institute (INE) showed on Friday.

Still, core inflation, which strips out volatile fresh food and energy prices, was at 6.9% year-on-year, higher than the 6.3% recorded a month ago, the INE data showed.

In November, Spain had the lowest inflation in the 27-member European Union with a rate of 6.7%, after peaking in July at around 11%.

“We make a very positive reading. Five points in five months … [Core inflation](https://www.financedigest.com/boes-mann-falling-headline-inflation-high-core-make-policy-difficult.html "BoE’s Mann: Falling headline inflation, high core, make policy difficult") is taking longer to come down because it took longer to go up,” Economy Minister Nadia Calviño said in an interview with broadcaster SER.

Spain’s [European Union-harmonised 12-month inflation](https://www.financedigest.com/european-shares-set-for-weekly-gain-on-u-s-inflation-outlook.html "European shares set for weekly gain on U.S. inflation outlook") was 5.6%, down from 6.7% in November and below the 6.0% expectation from analysts polled by Reuters.

Free rail travel and discounts on urban transport, limits on the increase of rents and energy bill relief measures for [consumers all appear to have had an effect on price](https://www.financedigest.com/analysis-to-raise-prices-or-not-consumer-goods-makers-weigh-bets-on-buyer-strength.html "Analysis-To raise prices or not? Consumer goods makers weigh bets on buyer strength") growth.

Earlier this week, Spain approved this year’s third major package of measures to [ease the pain of inflation](https://www.financedigest.com/euro-zone-inflation-eases-in-feb-but-core-prices-pick-up.html "Euro zone inflation eases in Feb but core prices pick up"), including reductions in value-added tax on basic food staples such as bread or milk and a 200-euro bonus for households with annual incomes below the threshold of 27,000 euros.

(Reporting by Joanna Jonczyk-Gwizdala and Belén Carreño, Editing by David Latona and Andrei Khalip)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---