2023-08-30 07:43:00
Inflation accelerated in Spain in August to 2.6% over one year, following falling below 2% in June, according to a provisional estimate published on Wednesday by the National Institute of Statistics (INE). ).
This price increase, which has yet to be confirmed, is 0.3 point higher than that of July (2.3%).
In June, inflation had slowed dramatically in Spain to 1.9%, returning for the first time since March 2021 to the 2% target set by the European Central Bank (ECB).
If it starts to rise once more, Spanish inflation remains well below that of the euro zone, where the rise in prices stood at 5.3% over one year in July.
According to the INE, as in July, the rebound observed in August in Spain is explained ‘mainly’ by the rise in fuel prices.
The harmonized consumer price index (IPCA), which allows comparisons with other countries in the euro zone, stood at 2.4%, i.e. 0.3 points more than in July (2 .1%), according to the statistics institute.
Core inflation, which does not take energy prices into account and which is seasonally adjusted, fell by 0.1 point to 6.1% over one year.
Inflation in Spain had soared following the start of the war in Ukraine, reaching a peak of 10.8% in the summer of 2022. This led the government of socialist Pedro Sánchez to multiply budgetary boosts, with reductions in VAT on basic necessities and reductions in fuel taxes.
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