This was mainly due to housing and utility prices (+7.9%), and to a large extent due to rising electricity and transport costs (1.3%). The baseline pressure indicator, which excludes energy prices and some food products, dropped to 2.1%.
Analysts surveyed by Bloomberg predicted an increase in inflation in the country, which began at the end of last year. They believe that the indicator will decrease in the next few months.
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Overall, the Spanish economy has been showing steady growth, overtaking most European countries in recent years. This is due to the active influx of tourists, an increase in exports and stable domestic demand. In 2024, the country's gross domestic product grew by 3.2%, which contributed to higher wages and lower unemployment.
The publication also notes that in 2025, the European Central Bank is likely to achieve its 2% inflation target. Analysts expect a reduction in the key rate to 2.5% at the next meeting of the regulator.
Earlier, we wrote that in January, the inflation rate in the United States increased to 3% year-on-year.
