Inflation accelerated in Spain in July

By: Trademagazin Date: 2023. 07. 28. 10:44

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The annual growth rate of consumer prices in Spain accelerated to 2.3 percent in July from 1.9 percent in the previous month, according to preliminary data published by the Spanish Statistics Office (INE) on Friday.

Annual inflation in June was the lowest since March 2021. Analysts had previously expected a July inflation figure of 1.6 percent.

The acceleration of inflation is mainly due to the increase in fuel prices.

The prices of clothing and footwear decreased less, and the prices of tourism offers increased more than last July. On the other hand, the price of electricity and natural gas has decreased, says the INE statement.