Spain’s inflation almost halves to 3.1% in March

Spain’s inflation plummeted faster than expected to 3.1 per cent in March as energy costs dropped, but price pressures remain strong, highlighting the dilemma of rate-setters at the European Central Bank.

The rate of growth in consumer prices compared with a year ago almost halved from the previous month’s 6 per cent inflation, according to figures published by Spain’s statistics office on Thursday. It was also lower than the 4…