Tourism boosts Spanish consumer prices for April

Spanish consumer prices rose past forecasts in April, pushed higher by tourism prices as a result of the Easter holidays and a higher cost of electricity versus a year ago.

The consumer price index advanced at a 1.0% month-on-month clip, pushing the year-over-year rate of inflation up from 2.3% in March to 2.6% for April, according to INE.

In harmonised terms, CPI also accelerated from a 2.3% clip to 2.6%.

Electricity prices were flat in April versus a drop in the same month one year ago.

Economists had expected the Mediterranean country's harmonised CPI to be unchanged at 2.3% year-on-year.