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- Spain’s annual CPI climbs 3.3 percent in August
Spain’s annual CPI climbs 3.3 percent in August
The
flash estimates from the Instituto Nacional de Estadística (INE) revealed on
Monday that Spain’s consumer price index (CPI) rose 0.4 percent m-o-m in August
after dropping 0.8. percent m-o-m in the previous month.
On
the y-o-y basis, Spain’s CPI climbed 3.3 in August, following a 2.9 percent jump
in July. That was the highest reading since October 2012
According
to the report, the rise in electricity prices was the major contributor to the
August surge in headline CPI. Meanwhile, the general index excluding non-processed
food and energy products increased 0.7 percent y-o-y in August, accelerating from
0.6 percent y-o-y in July.
Meanwhile,
the harmonized index of consumer prices for Spain (HICP), which is calculated
for European purposes, rose also 0.4 percent m-o-m and 3.3 percent y-o-y. Economists
had predicted HICP would rise 0.1 percent m-o-m and 2.9 percent y-o-y in August.
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