Spain Inflation Cools in December, Harmonised Rate Falls to 3.0%

Spain’s European Union-harmonised 12-month inflation rate eased to 3.0% in December, down from 3.2% in November, according to final data released Thursday by the National Statistics Institute (INE).

The reading matched both the preliminary “flash” estimate published two weeks ago and the average forecast from analysts polled by Reuters.

Core inflation — which excludes volatile fresh food and energy prices — held steady at 2.6% year-on-year, unchanged from November, the INE said.

On a national basis, Spain’s consumer price index rose 2.9% in the twelve months through December, slightly lower than the 3.0% recorded in November and in line with the preliminary estimate.

The data point to a gradual easing in price pressures toward the end of the year, reinforcing signs that inflation in Spain is stabilizing, even as core components remain sticky.