Spain: Inflation eases in July
July 29, 2011
According to a preliminary estimate released by INE on 29 July, annual inflation inched down from 3.2% in June to 3.1%in July, which marked the lowest level since December 2010. Detailed data from June showed consumer prices dropping 0.1% over the previous month, the first drop since January. The monthly reading was the result of lower prices for clothing and footwear as well as for transport, which was partially offset by higher prices for leisure and culture. The core inflation index, which does not include prices for unprocessed food and energy, fell 0.1% over the previous month, contrasting the 0.1% increase recorded in May. As a result of the subdued monthly drop, annual core inflation dropped from 2.1% in May to 1.7%.