Spains inflation rate falls

ACCORDING to the Spanish National Institute of Statistics, the inflation rate in Spain fell 0.6 percent in November 2012 to 2.9 percent and the previous month of October saw a fall of 3.5 percent.

The fall in transport prices by 3.1 percent mainly due to the price of new vehicles and fuel falling. Spain´s Government has stated that they cannot afford the rate of inflation in pensions in the upcoming 2013 year.

 They announced that the majority of pensions will see a rise of 1 percent and those receiving a pension below one thousand Euros per month with see a 2 percent increase.