Spain's Inflation Rate Accelerates for Second Consecutive Month

The National Statistics Institute of Spain has recently released the country's consumer price index (CPI) data for November, revealing positive results for the second consecutive month. The inflation rate in Spain has accelerated beyond market expectations.

According to the data, the preliminary year-on-year CPI reading for November rose to 2.4%, exceeding market expectations of a 2.3% increase. This marks a notable acceleration compared to the previous reading of 1.8% in October.

These figures reflect the ongoing inflationary pressures within the Spanish economy, as the CPI measures the overall increase in the prices of goods and services. The index is a critical factor in shaping monetary policy, especially in the Eurozone, where the European Central Bank uses targeted inflation levels to guide interest rate decisions.