Inflation falls to lowest point since March 2004

15th November 2006, Comments 0 comments

15 November 2006, MADRID — Inflation fell to its lowest point since the present government came to power in March 2004, according to figures released on Wednesday.

15 November 2006

MADRID — Inflation fell to its lowest point since the present government came to power in March 2004, according to figures released on Wednesday.

Spanish consumer prices rose 0.4 percent in October from September and were up 2.5 percent year-on-year.

Government sources said it was "excellent news", reported EFE news agency.

The present socialist government came to power in March 2004 after their shock election victory over the Popular Party government.

The fall in annual inflation from 2.8pc the month before was due mainly to a decrease in energy prices.

The National Statistics Institute (INE) said key month-on-month rises include clothing and footware, due to the start of the winter season, and education costs, as a result of the start of the university term.

Underlying inflation, excluding food and energy products, rose 0.9 pc in October from September and 2.8 pc from a year earlier.
 
[Copyright EFE with Expatica]

Subject: Spanish news

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