Spain’s year-on-year inflation rate falls

Madrid, April 30 (IANS/EFE) Spain’s year-on-year inflation rate fell by one percentage point to 1.4 percent in April, compared to the previous month, the National Statistics Institute, or INE, said in its preliminary consumer price index for the month.

The downward move in the consumer price index was driven mainly by drops in electricity rates and fuel and lubricant prices, the INE said.

If the final consumer price index for this month, scheduled for release May 14, confirms the initial figure, Spain’s inflation rate would be back to the March 2010 level.

The adjusted consumer price index, which measures price trends using the same methodology in all Eurozone countries, would be at 1.5 percent this month, down by 1.1 percentage points from March.

–IANS/EFE

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