By Maria Martinez
Spain’s inflation rate eased markedly in October due to lower electricity and gas prices.
Consumer prices rose 7.3% in October compared with the same month a year earlier by European Union-harmonized standards, easing from the 9.0% increase registered in September, preliminary data from the Spanish statistics office INE showed Friday. This is the lowest level since January.
The reading is below the 8.4% forecast by economists polled by The Wall Street Journal.
Measured by national standards, consumer prices rose 7.3% on year, down from 8.9% in September.
Core inflation–which exclude the more volatile categories of food and energy–remained unchanged at 6.2% in October.
On a monthly basis, Spain’s consumer prices rose 0.4% by both national standards and 0.1% by EU-harmonized standards.
Write to Maria Martinez at firstname.lastname@example.org