(MENAFN) Spain's economy minister said his country is not at risk of sliding into deflation, with five straight months of falling consumer prices which have helped the country's economic recovery, AFP reported.
Official data released last week showed that Spanish consumer prices dropped by 0.5 percent in November, the fifth consecutive month of declining inflation in the country.
The chronically low level of inflation across the 18-nation eurozone has raisin concern the region could slip into deflation, a sustained and widespread drop in prices that hampers economic activity.
"Falling prices have had a positive impact on competitiveness and spending power, which in turn helps Spain's economic recovery," the minister told conservative newspaper ABC.
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