The inflation in Spain it reached 7.6% in February over a year, its highest level in 35 years, due to the increase in energy prices, according to a definitive estimate published this Friday by the National Institute of Statistics (INE).
This figure, higher than the initially estimated 7.4% published at the end of February, reflects a clear acceleration compared to January, when inflation was 6.2 percent. This level had not been recorded “since December 1986,” says the INE.
According to this public body, this dynamic is explained by the strong increase in “energy products” (+44.3% in one year) and in “fuels and fuels” (+26.9%), which affected the whole of the Spanish economy.
The countries of the European Union have been confronted for several months, like other nations of the world, with a strong acceleration in inflation due to the tensions caused in the markets by the start of the economy after the restrictions caused by the Covid-19.
This inflation particularly affects energy prices.
The phenomenon is today aggravated by the war in the Ukraine and the sanctions imposed on Russia, which triggered the prices of gas, oil, and some raw materials and food products.