Inflation rate rises in Spain

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Prices rose 0.9 percent in Marh. Photo: EFE

Spain's inflation rate continued to accelerate in March, with consumer prices up at an annual rate of 4.5 percent, the government has reported.

On a monthly basis, they rose 0.9 percent, according to the National Statistics Institute, or INE, in a statement Friday.

In February, consumer prices rose 4.4 percent on the year and were up 0.2 percent on the month.

On an EU-harmonized basis, March annual inflation was 4.6 percent, in line with a preliminary estimate the INE released March 31.

Consumer prices have soared across the euro zone in recent months because of rising oil and food prices. The effect has been especially acute in Spain because food carries a greater weight in the country's consumer price index-basket and because Spain has a greater reliance on oil imports.