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Financial News: Spain Inflation Accelerates In August

Spain Inflation Accelerates In August

08/30/2021 - 08:17:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation accelerated in August on higher electricity prices, flash estimate from the statistical office INE showed on Monday.

Consumer price inflation rose to 3.3 percent in August from 2.9 percent in July.

EU harmonized inflation also increased to 3.3 percent in August from 2.9 percent a month ago. The rate was forecast to remain unchanged at 2.9 percent.

At the same time, core consumer prices that exclude non-processed food and energy products, grew only 0.7 percent after gaining 0.6 percent in July.

Month-on-month, consumer prices rose 0.4 percent, in contrast to a 0.8 percent fall in July. The harmonized index of consumer prices moved up 0.4 percent, following a 1.2 percent decrease in July.

Another report from INE showed retail sales rose 0.1 percent each on month in July and June. Food sales grew 0.4 percent, while non-food product sales were down 0.2 percent.

On an unadjusted basis, retail sales edged up 0.1 percent annually, following a 1.4 percent rise in the prior month. Seasonally adjusted sales also gained 0.1 percent on year.

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