Even so, headline inflation increased further by 0.4% on the month with price pressures seen more widespread. Restaurants and accommodation services saw a 1.2% increase with clothing and footwear reflected a 6.0% jump in prices. Meanwhile, transportation prices saw a 0.9% jump.
As for the annual estimate, it is all down to higher energy prices. Transportation prices surged by 6.5% compared to April last year, largely on the back of higher fuel and lubricant prices for personal vehicles.
The only bright spot is that core annual inflation is seen easing a touch to 2.8% – down from 2.9% in March.
But as the Middle East conflict drags on, expect inflation pressures to widen and spill over to core prices in due time
Spain inflation eases a little in April but still much higher than before US-Iran conflict
