Spanish Inflation Rises To 9-Month High

Spanish Inflation Rises To 9-Month High


Spain's consumer price inflation accelerated to the highest level in nine months in August, data released by statistical office INE showed Wednesday.
Annual inflation climbed to 2.7 percent in August from 2.2 percent in July. The latest figure was the highest since November 2011, when consumer prices rose 2.9 percent. August inflation matched economists' expectations.
Food and non-alcoholic beverages prices rose 2 percent annually, while clothing and footwear prices remained unchanged. Housing costs were higher by 6 percent compared to last year, and transportation costs by 6.1 percent.
Month-on-month, consumer prices rose 0.6 percent in August, recovering from the previous month's 0.2 percent decrease. The latest change was in line with economists' forecast.
Inflation, measured by the harmonized index of consumer prices or HICP, remained unchanged at 2.7 percent in August, in line with expectations.