Spanish Inflation Rate Confirmed at 0.1%

Annual inflation rate in Spain edged down to 0.1 percent in June of 2014, from 0.2 percent registered in the previous month, confirming the preliminary estimates. Prices fell further for food and housing.

Year-on-year prices fell further for food (-1.5 percent in June of 2014 from -0.8 percent in the previous month), and furnishings, household equipment and routine maintenance of the house (-0.9 percent from -0.8 percent). Prices eased for alcoholic beverages and tobacco (2.1 percent from 2.2 percent), clothing and footwear (0.2 percent from 0.4 percent), housing, water, electricity, gas and other fuels (2.1 percent from 2.7 percent), and hotels, cafés and restaurants (0.4 percent from 0.5 percent). In contrast, prices accelerated to other goods and services (1.2 percent from 0.7 percent) due to higher cost of automobile insurance, and transport (1.1 percent from 0.8 percent) considering the higher cost of fuels and lubricants.

Annual core inflation (excluding food not produced and energy products) is maintained at 0.0 percent in June of 2014.

On a monthly basis, consumer prices remained unchanged at 0.0 percent in June of 2014. Clothing and footwear prices fell 1.3 percent, reflecting the promotions of summer season sales, and housing cost dropped 0.5 percent as electricity prices declined. On the other hand, prices accelerated for transport (0.6 percent) due fuels and lubricants higher cost, recreation and culture (0.7 percent) reflecting higher prices of holidays packages, other goods and services (0.4 percent), hotels, cafes and restaurants (0.3 percent).

Spanish Inflation Rate Confirmed at 0.1%

Isabel Felino |
7/11/2014 9:56:49 AM