Madrid: Spain’s National Statistics Institute announced that consumer price inflation in the country rose in July to its highest level in five months, driven by higher electricity and transport costs.
In final data released today, the institute said the Consumer Price Index increased by 2.7% year-on-year, compared to 2.3% in June. This was the highest rate since March and matched initial estimates.
The harmonized EU inflation rate also rose to 2.7% from 2.3% the previous month, in line with the figure published on July 30.
Core inflation, which excludes unprocessed food and energy prices, increased to 2.3% from 2.2%.
The data showed that housing costs rose by 6.7%, largely due to higher electricity prices, while transport costs grew by 0.2% on the back of higher fuel prices.
On a monthly basis, the Consumer Price Index fell by 0.1%, as expected, reversing the 0.7% increase recorded in June.
