By Xavier Fontdegloria 
 

Annual inflation in Spain accelerated in December to the fastest pace since March 1992, driven by a surge in electricity and food prices.

Consumer prices rose 6.7% on year in December following a 5.5% rise in November, according to a first estimate released Thursday by the Spanish statistics office INE.

The reading is well above the 5.5% increase forecast from economists polled by The Wall Street Journal.

The rise in the annual inflation rate was caused mainly by a jump in electricity prices, as well as food prices, INE said.

The core consumer-price index--which excludes the more-volatile categories of food and energy--rose 2.1% on year in December. In November, annual core inflation rose 1.7%.

Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com

(END) Dow Jones Newswires

December 30, 2021 03:16 ET (08:16 GMT)