Central Banks
Spanish Inflation Jumps to Most Since August on Base Effects
- November consumer prices rose 2.4% from year ago, as expected
- Uptick is unlikely to alter ECB’s interest rate-cutting plans
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Spanish inflation quickened to the fastest pace since August, though the acceleration was driven by base effects and is unlikely to scupper plans for the European Central Bank to continue lowering interest rates.
Consumer prices advanced 2.4% from a year ago in November, according to national statistics agency data published Thursday. That compares with 1.8% in October and is in line with the median estimate in a Bloomberg survey of economists.