Inflation remains above 10% in Spain. At 10.2% in June, the indicator measured in one year reached 10.8% in July. This is its highest level since September 1984, the National Statistics Institute (INE) announced on Friday, confirming its first estimate.
The INE attributes this acceleration of inflation to three groups. The house price category, in first place, rose four points in a month and 23% year-on-year, in particular because electricity prices rose last month after falling in July 2021. The clothing and footwear, as well as the food and non-alcoholic beverages sector also contributed to this trend.
3% drop in the transport sector
For its part, the transport sector registered a 3% drop compared to June, “due to the drop in fuel prices,” specifies the INE.
As the Institute had advanced in its estimate of July 29, core inflation -which does not take into account certain prices, such as energy prices, and which is corrected for seasonal variations- increased 0.6 points in July to stand at at 6.1%, its highest level since January 1993.
For its part, the INE reduced to 10.7% the increase in the annual rate of the harmonized consumer price index (IPCA), which allows comparisons with the rest of the countries of the euro zone, compared to 10.8% of its estimate of July 29.
Therefore, the IPCA rose 0.7 points compared to its level in June (10%).
Source: BFM TV
