Financial News: Spain Inflation Eases For Third Straight Month

Spain Inflation Eases For Third Straight Month

08/29/2024 - 05:42:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation eased for the third consecutive month in August, flash data from the statistical office INE showed on Thursday.

The consumer price index posted an annual growth of 2.2 percent after rising 2.8 percent in July. Inflation was also weaker than economists' forecast of 2.4 percent. This was the third consecutive slowdown.

Core inflation that excludes prices of unprocessed food and energy, moderated to 2.7 percent from 2.8 percent a month ago.

Inflation based on the harmonized index of consumer prices dropped to 2.4 percent from 2.9 percent in July.

Month-on-month, both the CPI and HICP remained flat in August. The CPI was forecast to climb 0.1 percent, reversing a drop of 0.5 percent in July and the HICP was expected to grow 0.2 percent following a 0.7 percent decrease.

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