Spanish inflation rises 6% in January, remains at 30-year high

The prices of goods and services in Spain continue to skyrocket at the start of the year 2022.

In January, inflation marked an increase of 6% year-on-year, according to the advance estimate by the National Institute of Statistics (INE).

The Consumer Price Index (CPI) - which was 6.5% in December 2021 - continues at rates not seen for 30 years. In monthly terms, the CPI fell 0.5% compared to December, mainly due to the drop in electricity prices.

January is usually a month of price containment due to lower consumption after the Christmas campaign and subsequent sales.

For its part, the estimated annual variation rate of core inflation (general index excluding unprocessed food and energy products) increased 0.3%, to 2.4%.

The data released today is a flash estimate of the final CPI data to be released next month.