In March, Spanish inflation rose to 3.2% YoY due to energy support measure removal, with core inflation at 3.3%.
In March, Spanish inflation accelerated to 3.2% year-on-year due to the government's removal of energy support measures. Core inflation, excluding food and energy, dipped to 3.3% from 3.5%. The European Central Bank is expected to start lowering the deposit rate from its current record of 4% in June. Analysts predict that headline inflation will rise temporarily in the coming months, and core inflation may not fall below 2% until next year.
March 27, 2024
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