Inflation in Spain registers its biggest monthly decrease in 35 years

Madrid, May 13 (EFE).- Inflation in Spain fell 1.5 points last April compared to the previous month, to 8.3%, the largest monthly decrease in the country in 35 years, according to data published this Friday by the National Institute of Statistics.

Inflation had stood in March of this year in Spain at 9.8%, the highest rate in the country since May 1985, due to the rise in electricity, fuel and food prices.

Inflation in Spain had been on the rise for thirteen months, since March 2021, a path only interrupted in January, when it moderated four tenths, to 6.1% year-on-year, and now in April.

The decrease in April compared to the previous month is due especially to the drop in electricity and fuel prices, according to this organization.

The price of electricity has reached records in Spain, where March was the most expensive month in history with 283.3 euros per megawatt hour, six times more than a year ago, although it has currently dropped to 203 euros.

The rise in fuel and fuel prices had worsened in the country after Russia’s invasion of Ukraine, with an average price that at the end of March exceeded 1.80 euros per liter of gasoline and diesel.

They are currently over 1.70 euros, since a discount of 20 cents per liter established by the Government has prevented them from reaching new highs.

(c) EFE Agency