Spain's annual inflation rises to 5.8% in January

ANKARA

Spain’s annual consumer inflation rose to 5.8% in January, much above than market forecast, according to flash data released on Monday.

The preliminary figure was up from 5.7% in December 2022, a 13-month low, as fuel price hike accelerated in January.

Meanwhile, clothing, footwear and electricity prices decreased from a year ago.

The market estimate was at 4.9% year-on-year in January's consumer prices.

On a monthly basis, Spain's consumer price index (CPI) fell 0.3% in January, following a 0.2% rise last December.