Inflation rises to 2pc

14 October 2004

MADRID – Spain reported Thursday an inflation level which exceeded a base rate set by the European Central Bank.

The National Statistics Institute said prices rose 0.2 percent in September from August to two percent overrall.

This meant that the inflation rate was 3.2 percent year-on-year.

The European Central Bank contends that price stability in the 12 nations using the euro occurs with an annual inflation rate just below 2 percent.

Core inflation, which excludes volatile food and energy prices, grew 0.20 percent principally because of the end of the summer sales and the rise in crue oil prices globally.

The categories that saw the biggest price increases were clothing and footwear, up 3 percent; education, up 0.80 percent; and housing, household goods, transportation and other goods and services, which rose 0.20 percent.

[Copyright EFE with Expatica]

Subject: Spanish news