Spanish Inflation remains unchanged in December as the recession in the euro zone's fourth biggest economy is deepening.
Central Bureau of Statistics in Madrid said today (3/1), consumer prices based on European Union calculations, rose 3% from a year earlier. The calculation is in line with the median forecast of 17 economists in a Bloomberg survey. Spanish national inflation showed a 2.9% rise.
Spain's economy likely contracted for six consecutive quarters until the end of last year as Prime Minister Mariano Rajoy to implement austerity measures to reduce budget deficits in the euro zone's second largest. The government also hopes to pass the target set by the European Union this year.
European Commission based in Brussels suspended against Spain after the budget cuts the 17-nation euro zone fell into recession. On the other hand, the European Central Bank lowered its economic forecast last month with a contraction of 0.3% this year.
A number of tax increases since Rajoy took office a year ago have contributed to price increases, and even lead to a second recession since 2008 that resulted in a quarter of the workforce unemployed.
According to Spanish statistical agency, recession impact on inflation of 0.9% in November, and 0.3% when the fresh food and energy are excluded. While the equivalent size will be announced on January 15
Central Bureau of Statistics in Madrid said today (3/1), consumer prices based on European Union calculations, rose 3% from a year earlier. The calculation is in line with the median forecast of 17 economists in a Bloomberg survey. Spanish national inflation showed a 2.9% rise.
Spain's economy likely contracted for six consecutive quarters until the end of last year as Prime Minister Mariano Rajoy to implement austerity measures to reduce budget deficits in the euro zone's second largest. The government also hopes to pass the target set by the European Union this year.
European Commission based in Brussels suspended against Spain after the budget cuts the 17-nation euro zone fell into recession. On the other hand, the European Central Bank lowered its economic forecast last month with a contraction of 0.3% this year.
A number of tax increases since Rajoy took office a year ago have contributed to price increases, and even lead to a second recession since 2008 that resulted in a quarter of the workforce unemployed.
According to Spanish statistical agency, recession impact on inflation of 0.9% in November, and 0.3% when the fresh food and energy are excluded. While the equivalent size will be announced on January 15
No comments:
Post a Comment