Consumer price inflation softened in Spain as expected in July to the lowest level in five months, latest data showed on Tuesday.
Inflation fell to 2.8% in July, from 3.6% in the period through to June, final data released by the National Statistics Institute (INE) revealed. A similar lower rate was last reported in February.
The annual price growth in housing eased to 3.2% in July from 5.1% in June, driven by a fall in electricity costs. Similarly, the inflation based on food and beverages index, moderated to 3.1% from 4.2%.
Underlying inflation, which excludes prices of non-processed food and energy, also slowed to 2.8% in July from 3.0%, as estimated.
We are going in the right direction,’ Spanish Prime Minister Pedro Sánchez posted on X/Twitter. ‘Inflation fell to 2.8% in July and food prices hit their lowest level since 2021.’
‘The decline in inflation and the positive performance of the economy are helping to improve the purchasing power of families,’ he added.
Índice de #Precios de Consumo Armonizado (#IPCA). Julio 2024 @es_INE
— INE España (@es_INE) August 13, 2024
El Índice de Precios de Consumo Armonizado (IPCA) situó su tasa anual en el 2,9%, siete décimas por debajo del mes anterior
Nota de prensa
👇https://t.co/FtqAAQGgKy
Resultados ➡️https://t.co/PaOHOvMVOC#INE pic.twitter.com/oH9RScsej9
La inflación se redujo en julio hasta el 2,8%, principalmente por la bajada de precios de electricidad y alimentos, según @es_INE
— Economía, Comercio y Empresa (@_minecogob) August 13, 2024
▶️Los alimentos siguieron bajando, hasta el 3,1%, menor tasa en casi 3 años
La subyacente también se redujo hasta 2,8%, tasa + baja desde enero 2022 pic.twitter.com/Fe8VNAZkXB
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