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Financial News: Spain Inflation Highest Since 2012

Spain Inflation Highest Since 2012

09/14/2021 - 06:16:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation accelerated to the highest since 2012, final data from the statistical office INE showed on Tuesday.

Consumer price inflation rose to 3.3 percent in August, in line with flash estimate, from 2.9 percent in July. The 3.3 percent was the highest rate since October 2012, when inflation was 3.5 percent.

EU harmonized inflation also increased to 3.3 percent in August from 2.9 percent a month ago. The rate matched the flash estimate released on August 30.

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 0.5 percent instead of 0.4 percent estimated initially. Prices had dropped 0.8 percent in July.

The harmonized index of consumer prices moved up 0.4 percent, following a 1.2 percent decrease in July. The monthly rate came in line with preliminary estimate.

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