Prices fall in Catalonia in July and set the annual inflation rate at 2.1%
According to a figures released by the Spanish Institute of Statistics (INE), Catalonia’s annual inflation rate fell from 2.6% to 2.1% between June and July. This is the second lowest annual inflation rate that Catalonia has experienced this year, with the lowest being during April when the figure was 1.8%. July’s annual inflation rate in Catalonia is higher than that of the whole of Spain, which is set at 1.8%. The main reason for this fall on last year’s results can be explained because of the lower rate of increases in electricity prices (compared to last year’s rise), as well as the end of the statistical effect of the pharmaceutical co-payment, which was implemented in July 2012 and significantly raised the consumer price of drugs.