Fuel and liquid fuel prices account for the rise in prices

Inflation in Spain has risen for two consecutive months, according to the advance CPI data released by the National Statistics Institute (INE). The Consumer Price Index (CPI) has increased by 0.3 % in August compared to the previous month, standing at 2.6 %. The rise in fuel and liquid fuel prices is said to be behind this upward trend.

According to INE data, core inflation – excluding unprocessed food and energy products – fell by one tenth of a percentage point in August (6.1 %), placing it 3.5 points above the general CPI. Likewise, electricity prices have risen less than they did in the same month of the previous year.

The Ministry of Economic Affairs has stressed in a statement that the CPI figure “consolidates Spain as one of the eurozone countries with the lowest inflation”, after it has fallen by around 8 points in the last year. Nadia Calviño, Minister of Economic Affairs, pointed out: “This favours the competitiveness of Spanish companies, the gain in market share and the increase in the purchasing power of salaries”.