and the cost of living crisis that has triggered. but there are signs of hope are starting to emerge. in the last few hours we ve had the latest monthly inflation figures out of spain and that the pace of prices rises fell to an annualised pace of 3.1% in march when using the measure that allows comparison with other countries. that s a big drop from february s 6% and was mainly due to lower energy costs, with food prices also falling. and in germany, europe s biggest economy, there was also a big drop. by the same measure inflation has now fallen to 7.8% as businesses and households benefited from lower natural gas prices. joining me live now is the spanish economist professor santiago carbo valverde, from the university of valencia. what is causing such a big fall in inflation in spain? lowering vat has helped bring down some of the prices of the food and agricultural prost products. we also have what is called a competition or factor. last march, inflation is computed year
what is causing such a big fall in inflation in spain? lowering vat has helped bring down some of the prices of the food and agricultural prost products. we also have what is called a competition or factor. last march, inflation is computed year and year, last march 2022 we had a very big rise in inflation because of the impact of the war on the energy prices. a year later, energy prices are going down and the impact of the war is already mostly finished for the time being. there is also conversational practice in prices but it is going at a lower