The National Institute of Statistics (INE) reported that the annual inflation rate in Spain was 3.3% in March. The weakest level since Aug 2021.
Nevertheless, the cost of food & drinks (non-alcoholic) has been rising. With a 16.5% rise recorded in March, primarily as a result of increases in the price of meat & vegetables, according to the Shree Metal Prices.
According to the INE, core inflation, which excludes the cost of unprocessed food and energy items, decreased by 0.1% to 7.5%. Which is 4.2 percentage points higher than the overall rate of inflation.
Spain has one of the lower rates of inflation in all of Europe. According to the nation’s Ministry for Economic Affairs.