Rocketing prices in the last month of the year has seen Spain’s inflation rate in the month of December shoot up to reach 6.7%, a figure not seen for almost 30 years, back in 1992, according to preliminary data from the National Institute of Statistics.
It is more than one point above that registered in November, and the twelfth consecutive positive rate climb.
The main culprit for this big jump was the price of electricity, whose price, although fluctuating, has not stopped climbing to new highs. To a lesser extent, food prices have also increased.
On the contrary, the prices of vehicle fuel and lubricants fell in December, in contrast to the rise they experienced a year earlier.
The INE will publish its final data for December on 14, January 2022.