The Spanish statistical office INE released its final consumer price inflation data on Friday. Consumer price inflation in Spain was down 0.4% in February, down from the preliminary reading of -0.3%, after a 1.9% decrease in January.

The monthly drop was mainly driven by a fall in clothing and footwear, and housing prices. Prices for clothing and footwear, and housing both plunged 1.6% in February.

On a yearly basis, consumer prices fell by 0.8% in February from a year ago, in line with preliminary reading, after a 0.3% fall reading in January.

The annual decline was mainly driven by a drop in the prices of housing and transport.