Although consumer prices (CPI) remained unchanged in Spain in August compared to July, according to the final data released by the National Statistics Institute (INE), Spain’s year-on-year CPI increased by 2.7% through August, the same rate as in July.
In August, the group that stood out most for its positive influence on the increase of the year-on-year CPI growth rate was transport prices, whose year-on-year rate rose one point to 1.2%. This was primarily due to a smaller drop in the prices of fuels and lubricants for personal vehicles compared to August 2024. The rise in passenger air transport prices, which was higher than the one registered in the same month of the previous year, also had an influence.
Meanwhile, among the groups with a negative influence, the most notable were: i) housing prices, whose annual rate dropped seven-tenths of a point to 6.0%, because electricity prices remained stable compared to the increase in August of last year, and ii) food and non-alcoholic beverage prices, with a rate of 2.3%, four-tenths of a point lower than the previous month. This change was mostly due to fruit prices falling more than they did in August 2024.
In August, the group with the largest positive monthly impact on the CPI’s monthly rate was leisure and culture, whose prices rose 1.5% due to an increase in the cost of package tours. On the other hand, among the groups with a negative monthly impact, food and non-alcoholic beverages stood out, with prices falling 0.8% for the month.
