Spain's inflation level slightly falls

The advanced figures of Spain's inflation level for the month of October published Friday point to a slight drop in prices. Prices fell by 0.1 percent, according to the figures published by the National Institute of Statistics (INE), leaving the annual inflation rate at 3 percent. The INE explains the price fall by pointing to stability in electricity price when compared to October 2010, when electricity prices were on the rise. The figures will be confirmed on Nov. 15, but if they are, it will bring a sharp halt to the price rises in the debt-ridden economy during September when the cost of living increased for the first time in four months. Inflation stood at 2.3 percent a year earlier and increased steadily thereafter until reaching a maximum of 3.8 percent in April. The upward tendency ended in May, when prices fell by 0.3 percent and that trend continued until September.