Spanish Inflation Rate Confirmed at -0.3%

The annual inflation rate in Spain fell 0.3 percent in July of 2014, confirming the preliminary estimates as cost of food and recreation and culture declined the most.
INE | Isabel Felino | isabel.felino@tradingeconomics.com
8/13/2014 10:14:37 AM
Year-on-year, downward pressures came from lower prices of transports (0.1 percent in July of 2014 from 0.2 percent in June), food and non-alcoholic beverages (-2.0 percent from 0.3 percent), recreation and culture (-1.6 percent from 0.9 percent), alcoholic beverages and tobacco (0.6 percent from 2.1 percent). Cost of housing rose 1.2 percent compared with the gain of 0.3 percent in June.

The core inflation rate (excluding food and energy) was 0.0 percent year-on-year in July of 2014. 

On a monthly basis, the consumer price index fell 0.9 percent in July of 2014. Prices declined for clothing and footwear (-12.9 percent) due to the summer sales; housing (-0.5 percent) as energy prices declined; furniture, household equipment and maintenance (-0.9 percent) derived from furniture lower prices; and communications (-1.2 percent). In contrast, higher prices were registered for recreation and culture (1.3 percent) as travel packages costs rose; hotels, cafés and restaurants (0.7 percent). 

Spanish Inflation Rate Confirmed at -0.3%