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More good news for Spain’s powerhouse economy after steep fall in inflation
['Ben Pawlowski']
Olive Press News Spain
CONSUMERS in Spain will get more bang for their buck next month after the rate of inflation fell for the third month running.
According to provisional figures released on Friday by the National Statistics Institute (INE), inflation fell steeply by half a percentage point in January from December, slowing to 2.4 per cent.
That is the third consecutive monthly fall after back-to-back one-tenth of a percentage point decreases in November and December.
It is the largest drop in inflation for ten months and the lowest figure since June last year, when the rate of inflation stood at 2.3 per cent.
The INE says January’s sharp slowdown was driven by cheap energy prices and a fall in the cost of fuel.