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.
