Spain: inflation falls on lower oil prices

MADRID, Spain (AP) -- Spain says its yearly inflation rate dropped one percentage point in October to 3.6 percent, thanks mainly to lower prices for oil and some foodstuffs.

The National Statistics Institute says the decline brought the EU-harmonized consumer price index down to the level recorded in Spain in Oct. 2007. It was also the third straight monthly decline.

The figure released Wednesday is identical to one the institute published late last month in a preliminary estimate of the October inflation rate.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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