Spain sees highest inflation in nearly 40 years

Monday, 4 April 2022newsdesk

Inflation in Spain rose by 9.8% in March compared to the same month last year, according to preliminary data published by the National Statistics Institute on Wednesday.

New Delhi, 04 April 2022

As per news report of Rt.com, the rise in the consumer price index is the highest since May 1985, and the provisional figure for this month is more than two percentage points above the rate registered in February, the statistics office said, adding that inflation was driven by hikes in the price of electricity, fuel, food, and alcoholic beverages. “73% of the inflation can be explained by the runaway prices of energy and food staples, which have been exacerbated by the war in Ukraine,” Prime Minister Pedro Sanchez told the parliament. On Tuesday, the Bank of Spain called the March inflation reading “particularly negative” and “a very significant uptick.”

Source - Rt.com