The price of food and non-alcoholic beverages rose at a slightly decreasing rate in Spain

By: Trademagazin Date: 2023. 04. 14. 10:39

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The slowdown in consumer price increases is primarily attributable to the base effect, energy prices fell in March this year, compared to the sharp rise seen in March of the previous year, which was caused by Russia’s invasion of Ukraine.

The annual inflation rate in March was the lowest since August 2021, mainly due to falling electricity and gas prices, as well as transport costs. The price of food and non-alcoholic beverages rose at a somewhat decreasing rate, by 16.5 percent in March, compared to 16.6 percent a month earlier. The prices of home furnishing and household equipment, restaurants and hotels, as well as clothing and footwear also increased at a decreasing rate. On the other hand, the prices of alcoholic beverages and tobacco products rose at an accelerating rate, and inflation also accelerated in the field of recreation and culture in March.

In March, consumer prices rose by 0.4 percent in line with the preliminary estimate compared to February, when a monthly increase of 0.9 percent was registered.