Spain's statistical office, Instituto Nacional de Estadística (INE), reported on Wednesday its final estimate showed that the country's consumer price index (CPI) rose 0.3 percent m-o-m in November, following a 1.8 percent m-o-m climb in October. This was slightly lower than a 0.4 percent m-o-m gain indicated in the earlier released flash estimate.
On y-o-y basis, the CPI surged 5.5 percent in November, slightly down from a flash estimate of 5.6 percent, but modestly higher than a 5.4 percent increase in October. This represented the highest consumer price inflation rate since September 1992. Economists had expected the reading to remain unrevised at 5.6 percent.
According to the report, major contributors to the November increase in annual CPI were higher prices for food and non-alcoholic beverages and increased transport costs.