Inflation in March is, if the preliminary calculation is correct, the highest in Spain since the summer of 2024.
However, the upward pressure on consumer prices in the Spanish economy was not quite as great as feared. The average forecast among analysts was for an increase of 3.8 percent, according to Bloomberg.
The euro fell against the dollar after the release.
A preliminary inflation figure for March for the entire eurozone is due to be published next Tuesday and is seen - together with the inflation figure for April - as a decisive factor ahead of the next interest rate decision from the European Central Bank (ECB) on April 30.
