Spain's annual inflation rises to 2.6% in August

ISTANBUL

Spain's annual inflation rate rose to 2.6% in August, from 2.3% in July, the country's National Statistics Institute (INE) announced on Tuesday.

The rate was 10.5% in August 2022, and 5.9% at the beginning of this year.

Although inflation saw a gradual decline for 12 months until June, from 10.8% to 1.9%, it rebounded during the last two months.

Core annual inflation, which does not include fresh food and energy prices, was 6.1% in August, down from 6.2% in July.

Consumer prices were also up by 0.5% on a monthly basis.