Consumer prices fall 0.7pc

13 February 2004

MADRID – Spain’s consumer prices fell 0.7 percent in January, bringing the overall level of inflation to 2.3 percent, the National Institute of Statistics said Friday.

The consumer price index (CPI) slipped 0.7 percent last month, bringing the 12-month inflation total down to 2.3 percent.

Inflation in the previous 12-month period stood at 2.6 percent.

The core CPI, which excludes energy and fresh food prices, fell by one percent last month to an inter-annual rate of 2.3 percent.

The category that saw the largest price decline was clothing and footwear, which plunged 11 percent due to January discounts.

Recreation costs fell 1.4 percent, household good prices slipped 0.6 percent and communications costs inched down 0.1 percent.

[Copyright EFE with Expatica]

Subject: Spanish news