Inflation in Spain falls to 2.8% in February due to lower electricity prices; core inflation at 3.4%

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Renta 4| The Consumer Price Index (CPI) rose by 0.3% in February compared to the previous month but cut its year-on-year rate by six tenths to 2.8%, due to lower electricity prices and stable food prices, according to data released on Thursday by the National Statistics Institute (INE) and reported by Europa Press. On the other hand, fuel prices rose in February.

With the fall in the year-on-year CPI in the second month of the year, inflation is once again going down after the upturn in January and is at its lowest level since last August, when it reached 2.6%.

Moreover, inflation fell below the 3% barrier in February after five consecutive months above this level.

The INE includes in the advance CPI data an estimate of core inflation (excluding unprocessed food and energy products), which in February fell by two tenths of a percentage point to 3.4%, a rate six tenths of a percentage point higher than that of the general CPI. The INE will publish the final CPI data for February on 14 March.

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