Spain: Harmonized inflation drops to lowest level since October 2024 in March
Latest reading: Harmonized inflation fell to 2.2% in March, below February’s 2.9%. March’s reading marked the lowest inflation rate since October 2024. The deceleration was largely driven by softer price pressures for housing and utilities plus a fall in transport prices.
Annual average harmonized inflation edged down to 2.7% in March (February: 2.8%). Meanwhile, consumer price inflation fell to 2.3% in March from February’s 3.0%.
Finally, harmonized consumer prices increased 0.69% from the previous month in March, picking up from the 0.39% rise logged in February. March’s result was the highest reading since March 2024.