Inflation & Prices
Spanish Inflation Unexpectedly Quickens Despite Tax Cut on Food
A vendor speaks with a visitor on a fresh produce and spices stall in La Boqueria market in Barcelona, Spain.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Spanish inflation unexpectedly accelerated in February on higher electricity and food costs, surprising to the upside for a second month even after the government cut taxes on key staples.
Consumer prices advanced 6.1% from a year ago — up from 5.9% in January — the statistics institute in Madrid said Tuesday. Economists in a Bloomberg survey had predicted that there’d be a slowdown to 5.7%.