FXstreet.com (Barcelona) - Inflation at consumer level has eased slightly beyond expectations in October, mainly because the decline of petrol prices, retail prices index were also down in October, according to data released by National Statistics.

Consumer prices have declined 0.2% from September to October, while they rose 4.5% year on year, down from a 5.2% year on year increase posted in September. Yearly inflation growth has been slower than the 4.9% expected by market analysts.

The largest downward contribution to yearly CPI came from transport costs, as a result of lower fuel and lubricant prices, triggered by a sharp decline by crude oil prices.

Core CPI, excluding food, energy, alcohol and tobacco has risen at a 1.9% year on year pace in October, down from the 2.2% yearly pace in September.

Retail prices have also moderated; RPI has dropped 0.3% from September to October, while the year on year growing pace slowed down to 4.2%, from 5.5% in September.