Inflation continues to rise in Spain

09:45, May 15, 2010      

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The rate of inflation in Spain continues to rise, according to official figures published on Friday.

The Spanish National Institute of Statistics (INE) figures for April show that the consumer Retain Price Index for April rose by 1.1 percent in relation to March, while prices are 1.5 percent higher than a year ago.

This increase in prices was pushed forward by a sharp rise in the price of shoes and clothing as a result of the end of the New Year sales and the introduction of the spring season lines onto the market.

Rising fuel prices also led to a 1.5 percent rise in transport costs, while the price of gas has also risen.

The underlying level of inflation, which excludes variation in the price of food and energy, did not show such positive news. It slipped three tenths of a percent to a rate of -0.1 percent: the first time it has sat at a negative level since 1986.

Spain's Economy Minister, Jose Manuel Campa said that he considered this to be a "one off" statistic and added that he expected more positive news in the forthcoming months.

Source: Xinhua
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