Spain's Annual Inflation Holds at 4.90% in October

A steady yearly rate masks a 0.60% monthly rise with core inflation at 3.10%, keeping prices well above the ECB's 2% target.

Overview

Spain's consumer price index showed no change in the annual rate at 4.90% for October while monthly CPI rose 0.60%.
The EU-harmonized measure used for cross-country comparison eased slightly to 4.90% year-on-year from 5.00% and recorded a 0.50% monthly increase.
Core inflation, which excludes volatile items such as energy and unprocessed food, remained elevated at 3.10% year-on-year in October.
Household budgets face continued pressure because monthly price gains and sticky core inflation mean living costs are still rising faster than wage growth in many sectors.
October's 4.90% sits below Spain's long-run average of 6.30% since 1955 but remains well above the European Central Bank's 2% goal, a gap that will factor into future monetary policy discussions.