Spain’s inflation to be lower this year than in 2022

MADRID: Spanish Economy Minister Nadia Calvino said on Monday she expects inflation will be lower this year than in 2022 though there will be “a lot of volatility” each month.

Despite the volatility, inflation will be “at practically half the level of last year, at levels much lower than last year,” she said in an interview with RNE radio station.

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The 12-month inflation rate in Spain fell in the second half of 2022 to 5.7% in December after peaking at 10.8% in July, though the rate then inched up and was at 6.1% in the period through February.