Prices in Spain rose by 0.3 percent in 2013 when compared with 2012, according to last data of the Consumer Price Index (CPI) released on Wednesday by the National Institute of Statistics (INE).

The 2013 annual inflation rate was the lowest since 1961 according to the INE, which also said that the annual inflation rate in December stood at 0.2 percent because of increased prices of fuel and lubricants that affected prices of transport and heat.

2013 started registering high annual inflation rates of 2.7 percent and 2.8 percent in Jan. and Feb. respectively before a fall in prices of 0.1 percent in October for the first time since 2009.

The Secretary of State for Economy Fernando Jimenez-Latorre said on Wednesday that 2013 inflation data was positive while predicting that in 2014 price moderation would continue, which was good for exports and consumption.

Latorre emphasized that wage moderation was also important because it helped improve Spain's competitiveness. Endi