Spain's consumer price inflation unexpectedly accelerated in January, flash data from the statistical office INE revealed on Monday.
Driven by higher fuel prices, consumer price inflation rose to 5.8% in January from 5.7% in December, while the rate was forecast to ease to 4.9%.
Likewise, EU harmonized inflation increased in January, to 5.8% from 5.5% a month ago. The expected rate was 4.7%.
Underlying consumer prices that excludes energy and unprocessed food advanced at a faster pace of 7.5% in January after rising 7% in the previous month.
On a monthly basis, consumer prices fell 0.3%, in contrast to the 0.2% increase a month ago. At the same time, the harmonized index of consumer prices dropped 0.5%.
Eurozone flash inflation data is due on Wednesday. Economists expect inflation in the currency bloc to ease marginally to 9.1% in January from 9.2% in December.
