Spain’s inflation fell to 3.1% in Dec

Spain’s 12-month inflation rate fell to 3.1 percent in December, down from 3.2 percent in the period through November, preliminary data from the National Statistics Institute (INE) showed on Friday.

The 12-month inflation was below the 3.2 percent expected by analysts polled by Reuters.

Core inflation, which strips out volatile fresh food and energy prices, was 3.8 percent year-on-year, the INE data showed.

Spain’s European Union-harmonized 12-month inflation was 3.3 percent, unchanged from November and below the 3.4 percent expected by analysts polled by Reuters.