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Spain sees the highest inflation in nearly 40 years

Spain’s consumer price index rose to its highest since May 1985, and the provisional figure for April is two percentage points higher than the rate in February. know more that, inflationary motivated by the status quo price increase electricity, fuel, food and alcoholic beverages.

Prime Minister Pedro Sanchez told parliament: “73% of inflation can be explained by rising food and energy prices”.

The Bank of Spain called March inflation “particularly negative” and “a very significant increase”.

Spain witnessed the highest inflation in nearly 40 years - Photo 1.

Prices for electricity, fuel, food and alcohol are soaring in Spain. (Photo: Reuters)

The country’s core inflation, which doesn’t account for price changes in volatile sectors like food and energy, also hit 3.4% in March, the highest annual increase since 2015. 2008.

The Spanish National Institute of Statistics will publish the final consumer price index data for March on April 13.

Inflation has increased globally in recent months and has been worsened by sanctions imposed by the US, EU and its allies on Russia after Moscow launched a special military operation in Ukraine. The eurozone saw inflation jump to a record 5.8% in February compared with the same period in 2021, according to the European Statistics Agency (Eurostat).

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