Spain Inflation Rate Confirmed at 14-Month High in June



Spain's annual inflation increased to 2.3 percent in June 2018, matching the preliminary estimate and compared to 2.1 percent in May. It remained at its highest level since April 2017.

Year-on-year, inflation quickened for transport (6.1 percent vs 5.1 percent in May), namely fuels (11.9 percent vs 9.2 percent); food & non-alcoholic beverages (2.5 percent vs 2 percent), of which fresh fruit (14.1 percent vs 6.9 percent); fresh vegetables (6.0 percent vs 2.9 percent) and eggs (6.1 percent vs 5.9 percent) and housing & utilities (2.6 percent vs 2.3 percent). Meanwhile, prices softened for restaurants & hotels (1.7 percent vs 2 percent); recreation & culture (0.6 percent vs 0.8 percent); clothing & footwear (0.9 percent vs 1.0 percent) and communications (2.2 percent vs 2.4 percent). Also, inflation was steady for miscellaneous goods & services (0.9 percent); education (0.7 percent); health (0.2 percent) and furnishings (0.1 percent).

Annual core inflation, which excludes volatile items such as food and energy, eased slightly to 1.0 percent in June from 1.1 percent in the previous month.

On a monthly basis, consumer prices went up 0.3 percent, in line with a preliminary figure and compared to a 0.9 percent rise in May. Main positive contributions came from prices of fruit (6.3 percent), tourist packages (5.3 percent), electricity (1.5 percent), lubricants (0.8 percent), rents (2.2 percent) and fuels (4.0 percent). 

The harmonized index of consumer prices advanced 2.3 percent from the previous year (2.1 percent in May) and 0.2 percent month-over-month (0.9 percent in May).

Spain Inflation Rate Confirmed at 14-Month High in June


INE | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
7/13/2018 8:06:43 AM