Spanish authorities say inflation rose to a 37-year high of 9.8% in March
The provisional figure, the highest since May 1985, is higher than the 7.6% annual inflation rate reported for February, the country’s National Statistics Office said Wednesday.
Russia’s aggression in Ukraine led to a rise in prices a few months after global inflation. Spain is one of 19 countries using the euro, with inflation rising to a record 5.8% in February. The United States grew 7.9% in the same month, the highest level since 1982.
In Spain, Prime Minister Pedro Sanchez told the Spanish parliament on Wednesday that prices had risen by 73% due to the war and disruptions to energy and agricultural markets.
Underlying inflation, which does not include fuel or food products, rose 3.4% in Spain, the highest increase since September 2008.