Inflation in Spain down to 2.2% in August

Inflation in Spain dropped by 0.6 percentage points in August, and now stands at 2.2%, according to preliminary figures for the Consumer Price Index (CPI) published on Thursday by Spain's National Statistics Institute (INE). 

This is the lowest inflation rate in the past year. 

The INE attributes this decrease to the lowering of fuel prices compared with August last year. 

To a lesser extent, the easing off of food prices and non-alcoholic beverages, that have decreased more than in the same period in 2023. 

Core CPI, which measures the change in prices without taking into account the most volatile ones such as energy and fresh food, has descended a tenth of a percentage point down to 2.7%.  

The Spanish economy minister, Carlos Cuerpo, has celebrated the new data of inflation has lowered and is close to the 2% goal projected by the Central European Bank.