Inflation in Spain rose 9.8% in March, the highest level since 1985

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ACCORDING to Spanish authorities, inflation rose to 9.8% in March, the highest level since 1973.

Over the past year, consumer price inflation has surged worldwide, causing Spain's inflation rate to hit a 37-year high in March.

Compared with February, the nation's national statistics office reported the highest inflation rate since May 1985; the provisional figure has increased from 7.6%.

The statistics office reported that electricity, fuel, food, and non-alcoholic beverages were driving inflation throughout the country.

Spain is among the 19 euro-using countries, which as a whole saw inflation spike to a record 5.8% in February. The Russian invasion of Ukraine has exacerbated global inflation.

 The United States recorded a 7.9% increase for the same month, the highest amount since 1982.

On Wednesday, Spain's Prime Minister Pedro Sánchez told the Spanish Parliament that 73 percent of price hikes are due to the war's disruptions in the energy and agriculture industries.

Spain's underlying inflation, excluding energy and food, increased by 3.4 percent, the highest rate since September 2008.

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