Spain inflation highest since 2012

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Inflation
Inflation

Spain’s consumer price inflation accelerated to the highest since 2012, final data from the statistical office INE showed on Tuesday.

Consumer price inflation rose to 3.3 per cent in August, in line with flash estimate, from 2.9 per cent in July. The 3.3 per cent was the highest rate since October 2012, when inflation was 3.5 per cent.

EU harmonized inflation also increased to 3.3 per cent in August from 2.9 per cent a month ago. The rate matched the flash estimate released on August 30.

At the same time, core consumer prices that exclude non-processed food and energy products, grew only 0.7 per cent after gaining 0.6 per cent in July.

Month-on-month, consumer prices rose 0.5 per cent instead of 0.4 per cent estimated initially. Prices had dropped 0.8 per cent in July. The harmonized index of consumer prices moved up 0.4 per cent, following a 1.2 per cent decrease in July. The monthly rate came in line with preliminary estimate.

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