Oil prices affect inflation in Spain more than in the euro zone
Economists from the Bank of Spain's Research Department have published a study on the direct, indirect and 'second time around' effects of oil prices on the economies of Spain and those of the European Monetary Union (EMU). The results show that Spanish inflation reflects oil prices than more directly inflation in the euro area overall.
"It affects Spanish inflation more for two reasons. Firstly, because Spaniards spend proportionally more on petrol and diesel than people in other European countries, and also becuase fuel taxes in Spain are lower than in the other countries ...




