Inflation in Spain down slightly in June to 3.4%

Inflation in Spain dropped by two tenths of a percentage point in June and stood at 3.4%, according to preliminary figures for the Consumer Price Index (CPI) published on Friday by Spain's National Statistics Institute (INE).

The fall is attributed mainly to a decrease in fuel prices, which are cheaper than this time last year.

To a lesser extent, the easing of food price increases has also had an effect. Although they are still on the up, in June 2023 food prices were skyrocketing, with increases that reached over 10%.

The slight drop in inflation in June comes after three consecutive months on the rise.

Core CPI, which measures the change in prices without taking into account the most volatile ones such as energy and fresh food, remains steady at 3%. This is a relatively low rate compared to a year ago, when it was close to 6%.

Definitive figures for June, including data for Catalonia specifically, will be published on July 12.