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Spain’s Inflation Falls to 2.2% in April, Driven by Energy Price Declines

Core inflation rises to 2.4%, ending a three-month decline, as regional disparities in price levels persist.

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¿Adiós a los históricos precios del aceite de oliva?
Archivo - Un hombre echa carburante a su vehículo en una gasolinera, a 11 de octubre de 2023, en Madrid (España). Tras más de tres meses seguidos con subidas en los precios de los carburantes, las gasolineras han comenzado a rebajar los precios, siendo el
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Overview

  • Spain’s annual Consumer Price Index (CPI) eased to 2.2% in April, its lowest level since October 2024, while monthly inflation rose by 0.6%.
  • Falling electricity, gas, and fuel prices were the primary drivers of the headline inflation decline, according to the Instituto Nacional de Estadística (INE).
  • Core inflation, which excludes volatile food and energy prices, increased to 2.4%, reversing three consecutive months of declines.
  • Olive oil prices plummeted by 42% year-on-year, marking the steepest drop among food products, though concerns grow among producers.
  • Regional inflation disparities remain evident, with Murcia posting the lowest annual rate at 1.5% and Balears the highest at 2.8%.