Inflation eases on back of cheaper fuel

Spanish inflation eased to 2.6 percent in March on a 12-month basis from 2.9 percent in February, mainly owing to lower prices for motor fuels, figures published on Friday by the national statistics institute INE showed.

More moderate increases in food prices also helped curb the seasonally-adjusted rise in Spain, the fourth biggest eurozone economy, INE added in a statement.

Average inflation peaked at more than 3.0 percent late last year in Spain, following an increase in September of value-added taxes (VAT).

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