For the first time in nine months, Spanish consumer prices went up by 0.3 percent on a year on year basis in November. The prices had been on the decline for eight months in succession.
In a report issued by the National Statistics Institute on Tuesday which showed the increase in consumer prices, it was also reported that core consumer prices, which do not include food and energy items, increased by 0.2 percent.
Economists’ expectations were more centered towards a 0.4 percent increase after the prices had fallen by 0.7 percent in the previous month. In the comparison on a region wise basis, the biggest rise was seen in Ceuta. Catalonia, Melilla, Cantabria, Basque Country, Madrid and the Balearic Islands also saw substantial prices rises. However, prices declined the most in Canary Islands.