Spain: Inflation at its highest level since 1984

Spain’s National Statistics Institute (INE), reported that the consumer price index (CPI) fell 0.3% in July from the previous month, although its year-on-year rate was down. climbed to 10.8%, its highest level since September 1984.

This index represents six tenths more than that recorded in June, adds the INE in final data, thus confirming the figure put forward at the end of last month concerning the percentage of the expected monthly increase.

With the rebound in July, inflation is now above 10% for two consecutive months, after 10.2% in June.

According to the INE, the rise in the CPI year-on-year, which reached 10.8% in July, is mainly due to the increase in the prices of housing, clothing and footwear, as well as foodstuffs. and non-alcoholic beverages.

Housing increased its annual change by four points, to 23%, due to higher electricity prices and, to a lesser extent, gas. Compared to June data, housing rose 2.6%.

Clothing and footwear increased by more than two and a half points compared to June, and the annual variation reached 5%. Meanwhile, food and non-alcoholic beverages reached their highest level since the historical series began in January 1994, with the rate climbing to 13.5%, six tenths of a point higher than last month.


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