Ekonomické zprávy
29.11.2021

Consumer inflation in Spain reached a near 30-year high in November

Data provided by the National Statistics Institute (INE) showed that in November, the growth rate of consumer prices in Spain accelerated to the highest level since September 1992, which was associated with an increase in the cost of food and continuing problems with supply chains.

The report showed that the consumer price index rose in November by 5.6% per annum compared with +5.4% in October. The latest change coincided with economists' forecasts. Meanwhile, the core consumer price index - excluding food and energy - rose by 1.7% per annum, which is the highest level since July 2013.

In general, the latest data call into question the opinion of ECB policymakers that the increase in consumer prices in the eurozone will be temporary. 

Inflation data for Germany will be released later today, and statistics on changes in consumer prices in France, Italy and the eurozone will be published tomorrow.

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