Spanish Inflation Hits 37-year High of 9.8%

Spanish inflation reached 9.8 percent in March, the highest since 1985.

Spain’s National Statistic Office reported a 2.2 percent increase in March from the 7.6 percent recorded Consumer Price Index in February. 

Hikes in electricity, fuel, food and non-alcoholic beverages have driven the inflation, said the statistics office.

According the Spanish Prime Minister Pedro Sánchez, the 73 percent of the price increases was a result of the disruptions to the energy and agriculture markets caused by the war in Ukraine.

The annual inflation rate in Europe reached 5.1 percent in January and 5.9 percent in February.

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