Spanish prices fall by 1.1 pct in Feb.

Spanish prices fell by 1.1 percent in February when compared with the same month of a year earlier, according to the Consumer Price Index (CPI) published on Thursday by Spain's Statistical Office (INE).

According to the INE, February inflation rate is 0.2 percent higher than that of January, when prices fell by 1.3 percent in comparison with a year earlier, because prices of transport fell less in February than in January. Prices in Spain have been falling for eight consecutive months on a year-on-year basis.

Prices of transport fell by 5.6 percent in February in comparison with the same month in 2014 and prices of items related to housing fell by 1.9 percent due to lower prices of electricity.

On the other hand, prices of food and non-alcoholic drinks increased by 0.2 percent, especially because of higher prices of fresh vegetables and oil.

The INE also reported that Spanish prices increase by 0.2 percent from January to February, with prices of transports, food and leisure increasing by 2.2 percent, 0.3 percent and 0.4 percent respectively.

Prices of hotels and other goods and services increased by 0.2 percent while those of items related to housing and clothing fell by 1.3 percent and 1.7 percent respectively. Endit