Spain estimated August CPI at 10.4% vs 10.8% in July

Inflation Spain

Spain’s estimated annual Consumer Prices Index (CPI) stood at 10.4% in August, according to an advance of the data from the National Statistics Institute (INE). If this figure is confirmed, it would mean a decline of four-tenths of a percentage point from the 10.8% recorded in July.

INE said the trend in inflation in August is mainly due to the fall in fuel prices, which rose a year earlier. And also, to a lesser extent, to the decline in liquid fuels which is bigger than that recorded in 2021. Meanwhile, electricity, food, catering and package tours’ prices, amongst others, all rose in August.

The estimated annual underlying CPI rate rose three-tenths of a percentage point in August to 6.4%. If this figure is confirmed, it would be the highest since January 1993, INE noted.

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