Spain's inflation rate fell in
November, down 0.6 percent to 2.9 percent compared with 3.5 percent
in the previous month, the Spanish National Institute of Statistics
(INE) said on Thursday.
The INE said the decrease was mainly due to fall in transport prices by 3.1 percent as a result of the fall in the cost of fuel and new vehicles.
This November inflation rate was important to adjust pensioner's purchasing power to the general prices increase.
However, the Spanish government has already announced they cannot afford to cover the full inflation rate in the 2013 pensions, announcing instead, that most pensions will increase by 1 percent while those earning a pension below 1,000 euros (1,306 U.S. dollars) a month will enjoy a 2 percent increase.
Most Popular Stories
- Homeowners More Satisfied With Mortgage Servicers
- House Shelves Immigration Bill, Goes on Vacation
- Ford Tremor: Easy to Park, Hard to Pay For
- What Hamas and Israel Hope to Gain in Gaza
- Notorious RBG Tells All in Couric Interview
- House GOP Leaders Abandon Immigrant Bill
- Why Samsung Shares Plunged in the April-June Quarter
- NASA Plans to Make Oxygen on Mars
- Market Loses All of July's Gains in One Day
- Wisconsin Supreme Court: Voter IDs Must Be Free