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Spain CPI Inflation Slows For Third Month In January

Spain's consumer price inflation eased for the third consecutive month in January to its lowest level in twelve months, led by fall in prices of recreation and culture and transport, preliminary data from the statistical office INE showed on Friday.

The consumer price index rose 1.0 percent year-on-year in January after a 1.2 percent rise in December. Economists had forecast a score of 1.0 percent.

The latest inflation rate was the slowest since January 2018, when it was 0.6 percent.

The core inflation slowed to a four month low of 0.8 percent annually in January, following a 0.9 percent rise in the previous two months.

On a month-on-month basis, the consumer prices declined 1.3 percent after a 0.4 percent fall in December. Prices fell for a third month.

Inflation based on the harmonized index of consumer prices, or HICP, slowed to 1.0 percent from a 1.2 percent in the prior month. While on a monthly basis, the HICP fell 1.7 percent.

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