Spain Inflation Rate Confirmed at 1.5% in July


Consumer prices in Spain increased 1.5 percent year-on-year in July 2017, the same pace as in June and in line with preliminary estimates. It remains the lowest inflation rate since November last year, mainly as cost eased for food and housing while rose faster for transport. On a monthly basis, consumer prices went down 0.7 percent.

Year-on-year, consumer prices advanced less for: food and non-alcoholic beverages (0.1 percent vs 0.8 percent in June); housing and utilities (3.2 percent vs 3.6 percent); hotels, cafes and restaurants (2.1 percent vs 2.2 percent); recreation and culture (1.2 percent vs 1.4 percent); miscellaneous goods and services (1 percent vs 1.1 percent) and communication (1.5 percent vs 2.1 percent). Also, prices of furniture and household equipment declined further (-0.6 percent vs -0.4 percent).

In contrast, cost rose faster for transport (2.4 percent vs 1.8 percent) and clothing and footwear (0.4 percent vs 0.2 percent).

Annual core inflation, which strips out volatile food and energy prices, was 1.4 percent, higher than 1.2 percent a month earlier.

On a monthly basis, consumer prices went down 0.7 percent.

The EU-harmonised index rose 1.7 percent year-on-year, higher than 1.6 percent in June. The monthly rate edged down 1.2 percent compared to a 0.1 percent increase in June.

INE | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/11/2017 7:28:39 AM