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15 February 2017 Consumer Price Index (CPI). Base 2016 January 2017 all index Monthly variation Accumulated variation Annual variation January -0.5-0.5 3.0 Main results The annual variation of the CPI for the of January stands at 3.0%, almost and a half percentage point above that registered in the. The annual rate of core inflation increases tenth, reaching 1.1%. The ly variation of the overall index is -0.5%. The annual rate of the Harmonised Index of Consumer Prices (HICP) stands at 2.9%, increasing and a half percentage point as compared with. The INE is today publishing the first Consumer Price Index in base 2016. Annual evolution of consumer prices The annual variation rate of the overall Consumer Price Index (CPI) in the of January was 3,0%, almost and a half percentage point above that registered in the and the greatest since October 2012. The groups with the greatest positive influence in this annual rate increase were: Housing, which registered a variation rate of 7.4%, more than six and a half percentage points above that of the, mainly due to the increase in the prices of electricity, as compared to the decrease they experienced in 2016. Another reason for this variation though to a lesser extent was the increase in the prices of heating gas oil and gas, which decreased in 2016. CPI JANUARY 2017 (1/15)

Transport, with a variation of 7.6%, almost three points above that of, caused almost entirely by the increase in the prices of fuels this, compared with the decrease registered in January 2016. On the other hand, the groups with the most negative influence were: Other goods and services, which variation rate decreased five tenths to 1.4%, due to the behaviour of Insurance. Communications, that registered an annual rate of 2.6%, seven tenths lower than that of the, mainly due to the decrease in the prices of Teleph services, which increased in 2016. Contribution of the groups to the annual change of the CPI 1. Food and non-alcoholic beverages 2. Alcoholic beverages and tobacco 0.040 0.026 3. Clothing and footwear 0.132 4. Housing 0.810 5. Furnishing and household equipment -0.007 6. Health 0.031 7. Transport 0.417 8. Communications -0.023 9. Leisure and culture 10. Education 0.006 0.000 11. Hotels, cafes and restaurants 12. Other goods and services -0.022-0.050 DIFERENCE IN THE ANNUAL CHANGE OF THE OVERALL CPI 1.4 The annual variation of core inflation (overall index excluding unprocessed food and energy products) increased tenth up to 1.1%, standing almost two points below the overall CPI rate. CPI JANUARY 2017 (2/15)

Annual evolution of the CPI all and core 3.0 2.5 1.5 0.5 0.9 1.0 1.1 0.7 0.7 0.6 0.7 0.9 0.8 0.8 0.8 0.7 0.7 1.0 1.1-0.5-1.5-0.3-0.8-0.8-1.1-1.0-0.8-0.6-0.1 0.2 2016 January February March April May June all July August September Core October November 2017 January Monthly evolution of consumer prices In January, the ly variation rate of the overall CPI was -0.5%. The groups with the greatest negative contribution to the overall index were: Clothing and footwear, with a variation rate of -15.3%, which includes the effect of the winter sales. Its contribution to the overall CPI was -1.032. Leisure and culture, with a variation of -1.5% and a contribution of -0.129, mainly due to the decrease in the prices of tourist packages. Furniture and household equipment, which registered a variation rate of -0.9%, due to the decrease in the prices of most of its compnts. The contribution of this group to the overall CPI was -0.050. In turn, the groups with greater positive contribution to the overall index were: Housing, with a variation rate of 2.8%, mainly due to the increase in the prices of electricity. Its contribution to the overall CPI was 0.377. Food and non-alcoholic beverages, whose 0.7% rate contributed by 0.143. Worth noting in this behaviour was the increase in the prices of fresh vegetables and fish and seafood. Transport, which registered a variation rate of 1.0% and a contribution of 0.140, due to the increase in the prices of fuels. CPI JANUARY 2017 (3/15)

1.5 1.0 0.5 0.0-0.5-1.0-1.5-2.0-2.5 Monthly evolution of the CPI all index -1.9-0.4 0.6 0.7 0.5 0.5-0.7 0.1 0.0 1.1 0.4 0.6-0.5 2016 January February March April May June July August September October November 2017 January A more detailed analysis showed the divisions that had the greatest contribution to the ly rate of the CPI during the of January. Activities with the greatest negative contribution to the ly rate of the CPI Food products Monthly rate (%) Contribution Fruit -0.3-0.005 Other divisions Clothes -16.8-0.818 Footwear -11.3-0.187 Tourist packages -6.4-0.102 Accommodation services -4.5-0.044 Other clothing and haberdashery articles -19.3-0.027 Household textiles -4.9-0.026 Divisions with the greatest positive contribution to the ly change of the CPI Food products Monthly rate (%) Contribution Fresh vegetables 4.0 0.076 Fish and seafood 2.9 0.070 Other divisions Electricity 8.8 0.309 Fuels and lubricants for personal vehicles 2.4 0.140 Gas 3.0 0.045 Tobacco 1.2 0.027 CPI JANUARY 2017 (4/15)

Results by Autonomous Community. Annual variation rates The annual rate of the CPI increased in all the Autonomous Communities. The highest increases were registered in Castilla y León, with an increment of 1.8 points, and in Comunitat Valenciana and Castilla La Mancha, with an increase of 1.7 points in both. In turn, Comunidad Foral de Navarra, Canarias and Cataluña registered the lowest increases, of 1.1, 1.2 and 1.2 points respectively. Annual CPI rates Autonomous Cities and Communities Castilla y León Castilla-La Mancha Galicia Cantabria Cataluña La Rioja Andalucía Asturias, Principado de Comunitat Valenciana Murcia, Región de NACIONAL Aragón Balears, IIles Extremadura Navarra, Comunidad Foral de País Vasco Melilla Madrid, Comunidad de Canarias Ceuta 1.5 1.9 1.5 1.3 1.5 1.8 1.5 1.4 1.4 1.3 1.1 3.4 3.3 3.2 3.1 3.1 3.1 3.0 3.0 3.0 3.0 3.0 2.9 2.9 2.9 2.9 2.9 2.8 2.7 2.5 2.5 January 2017 2016 CPI JANUARY 2017 (5/15)

Harmonised Index of Consumer Prices (HICP) In January, the annual variation rate of the HICP stood at 2.9%, and half percentage point above that registered in the. The ly change of the HICP was -1.0%. Annual evolution of the HICP, base 2005 all index for Spain and Mtary Union 1 4.0 3.0 2.9 2.0 1.0 0.0-1.0-2.0 0.3-0.4 0.0-0.1 0.1 0.2 0.2-0.2-0.2-0.3-1.0-1.0-1.2-0.9-0.7-1.1 0.4 0.5 0.6 0.5 0.0 1.4 1.1 1.8 2016 January February March April May June July August September October November 2017 January Spain Mtary Union 1 The latest data from the Mtary Union refers to the flash estimate Consumer Price Index at Constant Taxes In January, the annual variation rate of the Consumer Price Index at Constant Taxes (CPI-CT) stood at 3.0%, remaining the same as that of the overall index. The ly change of the CPI-CT was -0.5%. In turn, the CPI-CT registered an annual change of 2.9%, remaining the same as that of the HICP. The ly variation rate of the CPI-CT was -1.0%. CPI JANUARY 2017 (6/15)

Informative annex Main features of the CPI base 2016 The INE is today publishing the first Consumer Price Index in base 2016. With the implementation of the new base, the objective is to improve the representative nature of this indicator via changes in the composition of the shopping basket and updating the weighting structure. In addition, the CPI base 2016 incorporates the new European consumption classification, known as ECOICOP (European Classification of Individual Consumption by Purpose). This classification provides a further breakdown of the expenditure sections in which the information normally disseminated is structured. For example, the number of subclasses (aggregations of good and services at the highest level of detail) which was 126 in the base 2011 increases to 219 in the new base. Changes in the shopping basket The selection of the products representative of the household consumption comprising the CPI shopping basket is carried out based on the importance of the expenditure made on each of them. The composition of the basket is reviewed annually and updated to include new products whenever their consumption begins to be significant and to exclude those that are no longer purchased by households. The most significant changes in the configuration of the shopping basket base 2016 are the incorporation of music and video on-line services, gambling or the single-serve coffee in the food products. On the other hand, some examples of articles which disappear in the basket are the brandy, the video camera or the recordable DVD, among others. As a results of these adjustments, the shopping basket of the CPI base 2016 will now have 479 items, as compared with the 489 items for the base. Updating of the weightings The ongoing adaptation of the CPI to changes in consumer behaviour also includes the permanent revision of its weighting structure. Each, the weight and importance of the large aggregates comprising this indicator are updated, thus maintaining the current nature thereof. In addition, the complete structure is updated every five s for all levels of disaggregation. Therefore, CPI base 2016 includes a new weighting structure that more precisely represents household consumption patterns. For this purpose, the Household Budget Survey (HBS) is used as the main source of information, and it is supplemented by information from the National Accounts, the CPI itself and other sources provided by the different sectors. The following table includes the weight of each of the 12 large groups, and their comparisons with the weights valid until the 2016. CPI JANUARY 2017 (7/15)

Group weightings (so much per hundred) Group 2016 2017 Variation (%) 01. Food and non-alcoholic beverages 18.74 19.77 5.5 02. Alcoholic beverages and tobacco 2.77 3.02 9.1 03. Clothing and footwear 7.60 6.73-11.4 04. Housing 12.51 13.30 6.4 05. Furniture and household equipment 6.14 5.88-4.3 06. Health 3.40 3.96 16.4 07. Transport 15.60 14.67-5.9 08. Communication 3.44 3.60 4.5 09. Leisure and culture 7.00 8.52 21.8 10. Education 1.59 8 5.4 11. Restaurants, cafés and hotels. 10 12.12 4.5 12. Other goods and services 9.61 6.75-29.8 TOTAL 100 100 : The detailed information regarding the new weightings is available on the INE website (www.ine.es). Conceptual changes in the consumption area A new definition in the consumption area has been introduced into the new CPI base 2016, based on the concept of final consumption expenditure of households of the European System of Accounts (ESA). This requires to adjust some of the estimates of the expenditure from the HBS in order to adapt the CPI to these conceptual requirements. This adaptation affects the weighting of Insurance, where the amount in remuneration received by households is deducted from the gross expenditure from the HBS, and of second-hand cars, whose expenditure shifts from including all transactions to incorporate only those between households and companies. Treatment of seasonal items The CPI considers seasonal items to be those goods or services that cease to be available for sale during certain periods throughout the, and this situation is repeated cyclically. The items to which this definition refers are fresh fruit and fresh vegetables. A new methodological approach has been incorporated in the new base, which consists in the estimation of prices of goods that are not available in the market. In this way a more precise measurement in the evolution of prices is achieved. Chained series The changes introduced in the CPI have caused some of the elements involved in the computation of this indicator to differ from those used for base 2011. With the aim that the results of the CPI wont be affected by the incorporation of changes in the new base, the INE will elaborate the corresponding chained series, so as to provide continuity to the information that has been published until now. CPI JANUARY 2017 (8/15)

Consumer Price Index. Base 2016 January 2017 15 February 2017 1. National indices: overall and groups Group Index % change Contribution last last OVERALL INDEX 101.5-0.5-0.5 3.0 1. Food and non-alcoholic beverages 101.0 0.7 0.7 1.0 0.143 0.143 2. Alcoholic beverages and tobacco 101.3 0.9 0.9 1.7 0.026 0.026 3. Clothing and footwear 92.7-15.3-15.3 0.9-1.032-1.032 4. Housing 107.3 2.8 2.8 7.4 0.377 0.377 5. Furniture and household equipment 99.5-0.9-0.9-0.2-0.050-0.050 6. Health 100.4 0.2 0.2 0.7 0.006 0.006 7. Transport 104.4 1.0 1.0 7.6 0.140 0.140 8. Communications 100.4-0.4-0.4 2.6-0.015-0.015 9. Recreation and culture 100.1-1.5-1.5 0.9-0.129-0.129 10. Education 100.7 0.0 0.0 1.0 0.001 0.001 11. Restaurants, cafes and hotels 99.9-0.2-0.2 1.2-0.024-0.024 12. Miscellaneous goods and services 100.7 0.1 0.1 1.4 0.008 0.008 2. National special aggregates indices Special aggregates Index % change last Processed food including beverages and tobacco 100.3 0.2 0.2 0.3 Unprocessed food 102.7 1.8 1.8 2.7 Food, beverages and tobacco 101.0 0.7 0.7 1.1 Unprocessed food and energy 109.4 3.5 3.5 11.7 Industrial goods 102.8-1.7-1.7 5.8 Durable industrial goods 100.3-0.5-0.5 0.9 Energy 113.6 4.6 4.6 17.5 Fuels and gas 108.9 2.7 2.7 13.9 Industrial goods excluding electricity 100.7-2.8-2.8 3.8 Industrial goods excluding energy 98.3-4.5-4.5 0.8 Services 100.3-0.3-0.3 1.3 Services excluding rentals for housing 100.4-0.3-0.3 1.4 all index excluding food, beverages and tobacco 10-0.9-0.9 3.5 all index excluding rentals for housing 101.5-0.6-0.6 3.0 all index excluding energy 100.0-1.2-1.2 1.2 CORE INFLATION (all index excluding unprocessed food and energy) 99.8-1.5-1.5 1.1 all index excluding tobacco 101.5-0.6-0.6 3.0 all index excluding tobacco 102.3-0.7-0.7 4.1 all index excluding fuels 100.9-0.8-0.8 2.0 CPI JANUARY 2017 (7/13)

3. National headings indices Index last % change Contribution % change Contribution % change 01. Cereals and by-products 99.7-0.1-0.001-0.1-0.001-0.1 02. Bread 100.0 0.0 0.000 0.0 0.000 0.0 03. Bovine meat 100.3 0.2 0.002 0.2 0.002 0.0 04. Sheep meat 102.7-2.7-0.006-2.7-0.006 0.5 05. Swine meat 100.5-0.1-0.001-0.1-0.001 0.3 06. Poultry meat 100.7 0.7 0.006 0.7 0.006 0.0 07. Other meats 100.0-0.2-0.004-0.2-0.004-0.4 08. Fresh and frozen fish 108.0 5.6 0.064 5.6 0.064-0.3 09. Seafood and processed fish 102.7 0.5 0.006 0.5 0.006 3.9 10. Eggs 100.5-0.1 0.000-0.1 0.000 0.2 11. Milk 99.3 0.3 0.002 0.3 0.002-2.2 12. Milk-based products 99.7 0.0 0.000 0.0 0.000-0.6 13. Oils and fats 98.7 0.2 0.001 0.2 0.001-2.7 14. Fresh fruit 95.4-0.3-0.005-0.3-0.005-0.3 15. Canned and dried fruit 100.7 0.0 0.000 0.0 0.000 1.8 16. Fresh vegetables 113.5 7.3 0.074 7.3 0.074 17.9 17. Processed vegetables 100.8 0.1 0.001 0.1 0.001 2.5 18. Fresh potatoes and potatoes preparations 102.0 0.3 0.001 0.3 0.001 7.0 19. Coffee, cocoa and infusions 99.4-0.1 0.000-0.1 0.000-1.3 20. Sugar 99.0 1.0 0.001 1.0 0.001-2.8 21. Other food products 100.0 0.1 0.001 0.1 0.001 0.5 22. Mineral waters, soft drinks and juices 99.9 0.2 0.002 0.2 0.002 0.4 23. Alcoholic beverages 99.9-0.1-0.001-0.1-0.001 0.5 24. Tobacco 101.9 1.2 0.027 1.2 0.027 2.2 25. Garments for men 92.7-17.7-0.293-17.7-0.293 0.6 26. Garments for women 91.8-17.2-0.404-17.2-0.404 0.9 27. Garments for children and babyclothes 90.4-13.9-0.121-13.9-0.121 0.8 28. Clothing accesories and repair 94.2-14.0-0.027-14.0-0.027 0.7 29. Footwear for men 95.5-9.7-0.058-9.7-0.058 0.9 30. Footwear for women 94.8-1 -0.089-1 -0.089 0.8 31. Footwear for children and infants 88.6-14.2-0.041-14.2-0.041-3.5 32. Repair of footwear 100.2-0.5 0.000-0.5 0.000 0.6 33. Rentals for housing 100.0 0.0 0.001 0.0 0.001 0.1 34. Heating, electricity and water supply 115.0 5.8 0.374 5.8 0.374 15.0 35. Maintenance and repair of the dwelling 100.2 0.1 0.003 0.1 0.003 0.6 36. Furniture and floor coverings 99.6-1.2-0.015-1.2-0.015 0.4 37. Household textiles and decorations 97.5-4.5-0.026-4.5-0.026-38. Household appliances including repair 98.7-0.4-0.004-0.4-0.004-2.1 39. Household utensils and tools 99.4-0.7-0.003-0.7-0.003-0.2 40. Non-durable household goods 99.8-0.3-0.004-0.3-0.004 0.3 41. Household services 100.4 0.1 0.002 0.1 0.002 1.7 42. Medical, dental and paramedical services 100.6 0.5 0.011 0.5 0.011 0.8 43. Medical products, appliances and equipment 100.5 0.2 0.003 0.2 0.003 0.9 44. Personal transport 104.7 1.1 0.148 1.1 0.148 8.1 45. Local transport 100.2 0.1 0.001 0.1 0.001 0.2 46. Long-distance transport 98.4-1.0-0.009-1.0-0.009-2.4 47. Communications 100.4-0.4-0.015-0.4-0.015 2.6 48. Recreational items 97.8-0.5-0.012-0.5-0.012-3.4 49. Printed matter 101.3-0.3-0.002-0.3-0.002 1.9 50. Recreational services 100.1-0.4-0.014-0.4-0.014 0.7 51. Pre-primary and primary education 101.0 0.0 0.000 0.0 0.000 1.4 52. Secondary education 100.9 0.0 0.000 0.0 0.000 1.3 53. Tertiary education 100.6 0.0 0.000 0.0 0.000 0.8 54. Other educational goods and services 100.5 0.2 0.001 0.2 0.001 0.7 55. Personal effects 99.4-0.6-0.011-0.6-0.011-0.5 56. Tourism, catering and accommodation services 100.1-1.0-0.126-1.0-0.126 1.7 57. Other goods and services 100.9 0.3 0.011 0.3 0.011 1.4 CPI JANUARY 2017 (8/13)

4. Indices of Autonomous City and Community: overall and groups Grupos Index % change Index % change Index % change (Continues) last last last Andalucía Aragón Asturias, Principado de OVERALL INDEX 101.4-0.6-0.6 3.0 101.5-0.6-0.6 2.9 101.4-0.8-0.8 3.0 1. Food and non-alcoholic beverages 101.0 0.7 0.7 1.1 100.8 0.4 0.4 0.7 100.7 0.6 0.6 0.2 2. Alcoholic beverages and tobacco 101.5 0.9 0.9 1.7 101.2 0.8 0.8 101.4 0.8 0.8 1.3 3. Clothing and footwear 9-16.3-16.3 0.8 92.7-14.5-14.5 1.1 9-17.1-17.1 0.6 4. Housing 108.2 3.1 3.1 8.0 107.9 2.9 2.9 8.2 107.8 3.0 3.0 8.3 5. Furniture and household equipment 99.2-1.0-1.0-0.4 98.8-1.4-1.4-0.6 99.3-1.2-1.2-0.3 6. Health 100.4 0.0 0.0 0.9 100.6 0.1 0.1 1.0 100.5 0.1 0.1 1.5 7. Transport 104.5 1.0 1.0 7.6 104.5 1.0 1.0 7.5 104.6 1.1 1.1 7.9 8. Communications 100.4-0.4-0.4 2.6 100.4-0.4-0.4 2.6 100.3-0.4-0.4 2.6 9. Recreation and culture 100.1-1.0-1.0 0.8 100.1-1.3-1.3 0.2 99.5-1.9-1.9 0.5 10. Education 100.9 0.0 0.0 1.3 100.5 0.0 0.0 1.0 101.8 0.0 0.0 2.4 11. Restaurants, cafes and hotels 99.8-0.4-0.4 1.2 99.9-0.1-0.1 0.6 100.1-0.1-0.1 1.4 12. Miscellaneous goods and services 100.5 0.0 0.0 1.2 100.2-0.4-0.4 0.9 100.5 0.0 0.0 1.3 Balears, Illes Canarias Cantabria OVERALL INDEX 101.5-0.3-0.3 2.9 101.1-0.6-0.6 2.5 101.8-0.4-0.4 3.1 1. Food and non-alcoholic beverages 100.6 0.4 0.4 0.8 100.5 0.4 0.4 0.9 100.9 0.6 0.6 0.5 2. Alcoholic beverages and tobacco 101.3 0.6 0.6 1.8 100.3 0.8 0.8 4.5 101.4 1.1 1.1 3. Clothing and footwear 94.7-13.4-13.4 0.7 91.8-15.1-15.1-0.2 95.8-12.9-12.9 0.8 4. Housing 106.9 2.6 2.6 7.0 106.1 2.4 2.4 5.9 107.1 2.8 2.8 6.9 5. Furniture and household equipment 99.3-0.9-0.9-0.3 99.0-1.3-1.3-0.9 100.2-0.7-0.7 6. Health 100.0 0.0 0.0 0.3 100.1 0.1 0.1 0.4 100.1 0.2 0.2 0.3 7. Transport 104.1 0.9 0.9 7.1 103.1 0.2 0.2 5.5 105.0 1.1 1.1 8.3 8. Communications 100.4-0.4-0.4 2.7 100.4-0.4-0.4 2.6 100.5-0.3-0.3 2.7 9. Recreation and culture 100.1-1.2-1.2-0.2 99.5-1.0-1.0-0.3 100.3-1.3-1.3 0.8 10. Education 100.7 0.0 0.0 1.1 101.2 0.0 0.0 100.6 0.0 0.0 0.9 11. Restaurants, cafes and hotels 99.2-0.1-0.1 1.7 101.0 0.4 0.4 2.0 100.0 0.2 0.2 0.8 12. Miscellaneous goods and services 101.2 0.8 0.8 1.9 100.7 0.0 0.0 1.4 101.0 0.2 0.2 1.9

4. Indices of Autonomous City and Community: overall and groups Grupos Index % change Index % change Index % change (Continuation) last last last Castilla y León Castilla-La Mancha Cataluña OVERALL INDEX 101.8-0.6-0.6 3.4 101.7-0.6-0.6 3.3 10-0.5-0.5 3.1 1. Food and non-alcoholic beverages 101.4 0.7 0.7 1.2 101.2 0.7 0.7 1.2 101.3 0.8 0.8 1.5 2. Alcoholic beverages and tobacco 101.3 0.8 0.8 1.4 101.5 1.0 1.0 1.8 101.3 0.7 0.7 1.7 3. Clothing and footwear 92.8-15.5-15.5 1.2 92.5-15.8-15.8 0.8 93.4-15.4-15.4 0.9 4. Housing 108.6 3.1 3.1 9.2 109.5 3.4 3.4 10.2 106.3 2.5 2.5 6.4 5. Furniture and household equipment 99.6-0.7-0.7-0.2 99.4-0.9-0.9-0.4 100.0-0.7-0.7 0.9 6. Health 100.6 0.1 0.1 1.2 100.0 0.1 0.1 0.3 100.2 0.2 0.2 0.4 7. Transport 104.7 1.0 1.0 7.9 104.7 1.0 1.0 7.9 104.6 1.0 1.0 8.0 8. Communications 100.4-0.4-0.4 2.6 100.4-0.4-0.4 2.7 100.4-0.4-0.4 2.6 9. Recreation and culture 100.3-1.4-1.4 0.9 99.8-1.3-1.3 0.1 100.2-2.2-2.2 1.3 10. Education 100.8 0.0 0.0 1.0 100.4 0.0 0.0 0.5 100.8 0.0 0.0 1.1 11. Restaurants, cafes and hotels 99.4-0.8-0.8 1.4 99.7-0.6-0.6 0.3 99.8-0.2-0.2 1.5 12. Miscellaneous goods and services 100.6 0.1 0.1 1.2 100.6 0.2 0.2 1.3 100.8 0.2 0.2 1.5 Comunitat Valenciana Extremadura Galicia OVERALL INDEX 101.5-0.4-0.4 3.0 101.4-0.7-0.7 2.9 10-0.7-0.7 3.2 1. Food and non-alcoholic beverages 100.8 0.7 0.7 0.9 100.5 0.7 0.7 0.5 101.0 0.7 0.7 1.0 2. Alcoholic beverages and tobacco 101.2 1.0 1.0 1.3 101.5 0.9 0.9 1.7 101.4 0.8 0.8 1.7 3. Clothing and footwear 92.8-14.6-14.6 0.9 91.5-16.0-16.0 0.6 93.0-16.0-16.0 0.9 4. Housing 108.7 3.4 3.4 8.9 109.0 3.4 3.4 8.6 108.5 3.2 3.2 8.6 5. Furniture and household equipment 99.1-1.3-1.3-0.6 99.4-0.7-0.7-0.3 99.6-0.5-0.5-0.1 6. Health 100.4 0.3 0.3 0.5 99.8-0.2-0.2 0.1 100.9 0.2 0.2 1.3 7. Transport 104.5 1.1 1.1 7.8 104.5 1.0 1.0 7.7 104.4 1.0 1.0 7.6 8. Communications 100.3-0.5-0.5 2.5 100.3-0.4-0.4 2.6 100.4-0.4-0.4 2.6 9. Recreation and culture 99.9-1.3-1.3 0.3 100.3-1.1-1.1 1.1 100.1-1.3-1.3 0.6 10. Education 100.6 0.0 0.0 0.9 100.7 0.0 0.0 1.5 101.1 0.0 0.0 11. Restaurants, cafes and hotels 99.8 0.0 0.0 1.2 99.8-1.0-1.0 0.9 100.2 0.2 0.2 1.3 12. Miscellaneous goods and services 100.6 0.1 0.1 1.4 100.6 0.0 0.0 1.2 100.6-0.1-0.1 1.1

4. Indices of Autonomous City and Community: overall and groups Groups Index % change Index % change Index % change (Completion) last last last Madrid, Comunidad de Murcia, Región de Navarra, C. Foral de OVERALL INDEX 101.4-0.4-0.4 2.7 101.4-0.7-0.7 3.0 101.3-0.9-0.9 2.9 1. Food and non-alcoholic beverages 101.0 0.9 0.9 0.5 100.9 0.8 0.8 0.9 100.8 0.5 0.5 0.6 2. Alcoholic beverages and tobacco 101.3 0.9 0.9 1.5 10 1.1 1.1 1.9 101.4 0.8 0.8 2.0 3. Clothing and footwear 93.4-13.7-13.7 0.9 91.3-16.8-16.8 1.1 92.8-15.3-15.3 1.0 4. Housing 105.5 2.3 2.3 5.7 106.9 2.7 2.7 6.7 107.6 2.8 2.8 8.1 5. Furniture and household equipment 99.4-0.4-0.4-0.6 99.5-0.7-0.7-0.4 99.2-0.8-0.8-1.0 6. Health 100.5 0.1 0.1 0.8 100.9 0.1 0.1 1.5 99.9 0.1 0.1 0.0 7. Transport 104.2 0.9 0.9 7.2 105.0 1.1 1.1 8.8 103.6 0.2 0.2 6.8 8. Communications 100.4-0.4-0.4 2.7 100.4-0.4-0.4 2.6 100.3-0.5-0.5 2.5 9. Recreation and culture 100.1 - - 1.4 99.7-1.4-1.4 0.3 100.8-1.8-1.8 1.8 10. Education 100.2 0.1 0.1 0.2 100.8 0.0 0.0 1.2 100.8 0.1 0.1 1.1 11. Restaurants, cafes and hotels 100.2-0.2-0.2 1.1 100.5 0.2 0.2 0.8 100.2 0.1 0.1 2.0 12. Miscellaneous goods and services 100.7 0.2 0.2 1.5 100.6 0.0 0.0 1.3 100.3-0.3-0.3 1.1 País Vasco Rioja, La Ceuta OVERALL INDEX 101.5-0.6-0.6 2.9 10-1.0-1.0 3.1 101.1-0.7-0.7 2.5 1. Food and non-alcoholic beverages 101.2 0.8 0.8 0.8 101.4 0.8 0.8 0.8 100.8 0.7 0.7 1.0 2. Alcoholic beverages and tobacco 101.2 0.8 0.8 1.5 101.1 0.7 0.7 1.3 102.1 0.9 0.9 2.4 3. Clothing and footwear 92.3-15.8-15.8 0.9 90.0-20.5-20.5 0.9 89.0-18.0-18.0 0.7 4. Housing 107.6 3.2 3.2 7.4 108.7 3.5 3.5 8.9 106.6 2.9 2.9 6.2 5. Furniture and household equipment 99.9-0.9-0.9 0.7 100.0-1.4-1.4-0.2 100.3-1.1-1.1-0.1 6. Health 100.8 0.4 0.4 1.2 100.4 0.1 0.1 0.2 100.5 0.1 0.1 0.5 7. Transport 104.4 1.0 1.0 7.5 104.7 1.1 1.1 8.1 104.3 1.5 1.5 6.3 8. Communications 100.4-0.4-0.4 2.6 100.4-0.4-0.4 2.6 100.5-0.3-0.3 2.8 9. Recreation and culture 100.8-1.2-1.2 1.7 100.2-1.9-1.9 0.6 101.0-1.0-1.0 1.4 10. Education 100.9 0.1 0.1 1.2 100.9 0.0 0.0 1.3 101.1 0.0 0.0 1.5 11. Restaurants, cafes and hotels 99.8-0.1-0.1 0.9 99.3-1.1-1.1 0.8 101.0 0.7 0.7 12. Miscellaneous goods and services 101.0 0.4 0.4 1.7 100.5-0.2-0.2 1.5 100.2-0.2-0.2 0.9 Melilla OVERALL INDEX 101.2-1.1-1.1 2.8 1. Food and non-alcoholic beverages 101.1 0.6 0.6 1.4 2. Alcoholic beverages and tobacco 102.1 1.1 1.1 2.1 3. Clothing and footwear 90.7-17.7-17.7 0.8 4. Housing 108.1 2.7 2.7 8.1 5. Furniture and household equipment 100.3 0.0 0.0 0.6 6. Health 98.9-1.2-1.2-0.8 7. Transport 103.9 0.9 0.9 6.1 8. Communications 100.3-0.4-0.4 2.6 9. Recreation and culture 100.6-0.9-0.9 1.2 10. Education 100.5 0.0 0.0 0.6 11. Restaurants, cafes and hotels 100.1-0.1-0.1 0.7 12. Miscellaneous goods and services 100.4-0.4-0.4 1.3

Consumer Price Index at Constant Taxes Base 2016 January 2017 1. National indices at Constant Taxes: overall and groups Group Index % change OVERALL INDEX AT CONSTANT TAXES 101.5-0.5 3.0 1. Food and non-alcoholic beverages 101.0 0.7 1.0 2. Alcoholic beverages and tobacco 101.3 0.9 1.7 3. Clothing and footwear 92.7-15.3 0.9 4. Housing 107.3 2.8 7.4 5. Furniture and household equipment 99.5-0.9-0.2 6. Health 100.4 0.2 0.7 7. Transport 104.4 1.0 7.6 8. Communications 100.4-0.4 2.6 9. Recreation and culture 100.1-1.5 0.9 10. Education 100.7 0.0 1.0 11. Restaurants, cafes and hotels 99.9-0.2 1.2 12. Miscellaneous goods and services 100.7 0.1 1.4 2. National indices at Constant Taxes: overall and special aggregates Special aggregates Index % change OVERALL INDEX AT CONSTANT TAXES 101.5-0.5 3.0 Processed food including beverages and tobacco 100.3 0.2 0.3 Unprocessed food 102.7 1.8 2.7 Food, beverages and tobacco 101.0 0.7 1.1 Unprocessed food and energy 109.4 3.5 11.7 Industrial goods 102.8-1.7 5.8 Durable industrial goods 100.3-0.5 0.9 Energy 113.6 4.6 17.5 Fuels and gas 108.9 2.7 13.9 Industrial goods excluding electricity 100.7-2.8 3.8 Industrial goods excluding energy 98.3-4.5 0.8 Services 100.3-0.3 1.3 Services excluding rentals for housing 100.4-0.3 1.4 all index excluding food, beverages and tobacco 10-0.9 3.5 all index excluding rentals for housing 101.5-0.6 3.0 all index excluding energy 100.0-1.2 1.2 CORE INFLATION (all index excluding unprocessed food and energy) 99.8-1.5 1.1 all index excluding tobacco 101.5-0.6 3.0 all index excluding services 102.3-0.7 4.1 all index excluding fuels 100.9-0.8 2.0 OVERALL INDEX AT CONSTANT TAXES AND SUBSIDIES 101.5-0.5 2.9

Harmonized Index of Consumer Prices. 2015=100 January 2017 1. National indices: all and groups Group Index % change 15 February 2017 OVERALL INDEX 100.50-1.0 2.9 1. Food and non-alcoholic beverages 102.41 0.7 1.0 2. Alcoholic beverages and tobacco 101.81 0.9 1.7 3. Clothing and footwear 84.83-21.5 1.0 4. Housing 102.67 2.8 7.4 5. Furniture and household equipment 99.62-0.9-0.2 6. Health 100.82 0.1 0.7 7. Transport 101.23 0.9 7.1 8. Communications 102.95-0.4 2.6 9. Recreation and culture 98.88-1.8 0.6 10. Education 101.34 0.0 1.0 11. Restaurants, cafes and hotels 100.81-0.5 1.0 12. Miscellaneous goods and services 101.48 0.2 1.1 2. National index and at constant taxes General Index % change HICP at Constant Taxes 100.50-1.0 2.9 HICP 100.50-1.0 2.9 For further information see INEbase - www.ine.es/en/ All press releases at: www.ine.es/en/prensa/prensa_en.htm Press Office: Teleph numbers: 91 583 93 63 / 94 08 Fax: 91 583 90 87 - gprensa@ine.es Information Area: Teleph number: 91 583 91 00 Fax: 91 583 91 58 www.ine.es/infoine/?l=1 CPI JANUARY 2017 (13/13)