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Energy costs give Spain highest price increase in 29 years


MADRID (AP) — Spain’s National Statistics Institute says consumer prices increased this month by the country’s highest rate in 29 years as a result of soaring electricity costs. Preliminary data from the institute released on Thursday said consumer prices rose 5.5% in October compared to the same month in 2020. Regulatory measures so far haven’t contained the rising utility bills that the country’s residents and companies are seeing as a result of a global wholesale energy price crunch. The statistics agency says that apart from the cost of electricity, increases in fuel and gas prices also fueled the monthly consumer price hike.

Article Topic Follows: AP National Business

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Associated Press


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