Financial News: Spain Inflation Slows Less Than Estimated

Spain Inflation Slows Less Than Estimated

09/12/2024 - 05:38:00 (RTTNews)

(RTTNews) - Spain's inflation eased less than estimated in August, final data from the statistical office INE showed on Thursday.

Consumer price inflation fell to 2.3 percent in August from 2.8 percent in July. The rate was revised up from 2.2 percent.

At the same time, the statistical office confirmed inflation based on the harmonized index of consumer prices at 2.4 percent, down from 2.9 percent in July.

Core inflation, excluding prices of unprocessed food and energy, softened slightly to 2.7 percent from 2.8 percent a month ago. The core rate also matched preliminary estimate.

The annual fall was largely driven by lower prices of transport and food. Transport prices declined 1.3 percent due to the drop in fuel and lubricant prices and food and non-alcoholic beverages prices decreased 2.5 percent.

Month-on-month, both the CPI and HICP remained flat in August, in line with the initial estimate. Consumer prices had declined 0.5 percent and harmonized prices by 0.7 percent in July.

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