Spanish Prices Rise at Fastest Pace Since 2024 on Iran War

Spanish inflation jumped to its highest level since June 2024 due to the Iran war, supporting the case for the European Central Bank to raise interest rates.

Consumer prices rose 3.3% from a year earlier in March, data Friday showed. That’s up from 2.5% in February but short of the 3.8% median estimate in a survey of economists. The surge was driven by costlier fuel, statistics agency INE said.