Inflation skyrockets in Spain to 9.8% in March due to soaring energy costs, highest level since 1985

Inflation skyrocketed in Spain to 9.8% in March due to the soaring energy costs, according to a flash estimate published by the Spanish Statistics Institute (INE) on Wednesday.

The Consumer Price Index (CPI) last month compared to a year before was 7.6%.

If the figure is confirmed on April 13, it will be the highest level since May 1985, 37 years ago.

As for the core inflation, which excludes seasonal inflationary factors such as non-processed food and energy costs, it stood at 3.4% in March compared to 12 months before. If the figure is consolidated, it would be the highest since September 2008.

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