Spanish inflation down to 2.4%

December 06, 2008

According to provisional figures for November released today by the National Statistics Institute, inflation fell 1.2 points last month to 2.4%, mainly due to falling fuel, and to a lesser extent, food, prices.

Since peaking at 5.3% last July, inflation has fallen for four successive months to its lowest level since August 2007.

Economy minister Pedro Solbes predicted that inflation will continue to fall until July next year, bottoming out at below 1%.

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