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Consumer prices in Spain fall by 1.3 pct in January

Xinhua, February 14, 2015 Adjust font size:

Consumer prices in Spain fell by 1.3 percent in January when compared with the same month in 2014, according to the Consumer Price Index (CPI) published on Friday by the National Institute of Statistics (INE).

The INE attributed this fall to lower prices of fuel and lubricants, which had an impact on the prices of transport that dropped by 7.7 percent in January.

Prices of items related to housing fell by 0.4 percent, prices of clothing and shoes fell by 0.1 percent and prices of food and non-alcoholic drinks fell by 0.4 percent.

Meanwhile, the INE reported that consumer prices fell by 1.6 percent from December to January, with prices of clothing and shoes falling by 15.2 percent and prices of items related to culture and leisure falling by 1.6 percent.

Spanish consumer prices have been falling for seven consecutive months on a year-on-year basis and the Spanish Secretary of State for the Economy, Inigo Fernandez de Mesa, said the inflation rate would help increase household's disposable income and reduce businesses' costs of production strengthen Spanish exports in 2015. Endit