Inflation stabilizes in August

Latest reading: Harmonized consumer prices increased 2.7% in annual terms in August, stable from the prior month's reading. Relative to the previous month's figures, there were higher price pressures for transportation (+1.5% vs +0.5% in July), restaurants and hotels (+4.4% vs +4.3% in July) and recreation (+0.8% vs +0.7% in July). In contrast, there were milder price pressures for food and non-alcoholic beverages (+2.3% vs +2.7% in July) and housing and utilities (+5.9% vs +6.6% in July). Meanwhile, consumer prices were up 2.7% in year-on-year terms in August, matching July’s increase. Finally, harmonized consumer prices flatlined in August in month-on-month terms, following a 0.34% rise in the prior month.

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Spanish inflation projections for the next ten years from a panel of 32 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Spanish inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Spanish inflation projections.

Want to get access to the full dataset of Spanish inflation forecasts? Send an email to info@focus-economics.com.