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Spain's consumer prices fall by 0.7 pct in October

Xinhua, November 13, 2015 Adjust font size:

Spain's consumer prices fell by 0.7 percent in October when compared with the same month of a year earlier, according to data of the Consumer Price Index (CPI) published on Friday by Spain's Statistical Office (INE).

According to the INE, prices of transport fell by 5.7 percent in October compared to the same month of a year earlier due to lower prices of fuel and lubricants, which had a big impact on October's annual inflation rate.

Spain's prices have been falling for three consecutive months on a year-on-year basis after having fallen by 0.4 percent and 0.9 percent in August and September respectively.

On a month-to-month basis, Spain's prices rose by 0.6 percent from September to October. The rise was mainly due to higher prices of clothing and shoes that increased by 11.1 percent and prices of food and non-alcoholic drinks that rose by 0.6 percent.

On the other hand, prices of transport fell by 0.6 percent, prices of items related to housing fell by 0.4 percent and those related to leisure and culture and the hotel industry fell by 0.9 percent and 0.3 percent respectively. Endit