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Spanish prices fall by 1 pct in Dec.

Xinhua, January 16, 2015 Adjust font size:

Spain's prices fell by 1 percent in December, 2014 in comparison with the same month in 2013, according to the Consumer Price Index (CPI) published on Thursday by the Spanish Statistical Office (INE).

The INE said that prices of transport had a big impact on December's inflation rate. They fell by 5.5 percent due to lower prices of fuel and lubricants that had risen in December, 2013.

Prices of food and non alcoholic drinks also fell by 0.3 percent and prices of items related to housing fell by 0.2 percent, while those related to leisure and culture fell by 1.2 percent.

The INE also reported that Spanish prices fell by 0.6 percent from November to December with prices of transport falling by 3.4 percent and those of clothing and housing falling by 2 percent and 0.2 percent respectively.

Spanish prices have been falling for six months on a year-on-year basis, however, according to the International Monetary Fund (IMF) deflation is a sustained decline of prices for two consecutive semesters. Endit