• The inflation differential favorable to Spain with respect to the euro zone is maintained

The interannual rate of the general CPI increased one tenth in February 2019, standing at 1.1%, as the INE advanced at the end of last month, due to the higher rise in energy prices and unprocessed food .

The prices of energy products rose 2.6% in February, mainly due to the increase in the prices of fuels and lubricants (4%), in line with the evolution of the price of oil in international markets. On the contrary, the price of electricity decreased 1.1% year-on-year.

The prices of unprocessed food increased 3.4% year-on-year, highlighting the rebound in fresh or chilled vegetables and vegetables (10.3%).

Core inflation, which excludes the most volatile elements of the CPI (unprocessed food and energy products), decreased one tenth in February, standing at 0.7% year-on-year. This reduction is due to the moderation of the rate of increase in service prices – three tenths to 1.1% – while those of processed food, beverages and tobacco remained at 0.4% and those of industrial goods did not energy, in 0.1%. Among services, the 6.2% drop in the prices of tourist packages stands out.

In February, the year-on-year rate of the CPI increased in 10 of the 17 autonomous communities, remained in six and decreased in one. The largest increases, of three tenths, occurred in the Community of Navarra (1.6%), the Basque Country (1.3%) and Castilla-La Mancha (1%).

The interannual rate of the CPI to constant taxes stood at 1% in February, one tenth lower than that of the general CPI.

The INE has also published the harmonized CPI (CPI) corresponding to the month of February, whose annual rate also increases one tenth, up to 1.1%. Inflation advanced by Eurostat for the whole of the euro zone stands at 1.5% in that month, resulting in a favorable differential for Spain of 0.4 percentage points



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