Spain's inflation unexpectedly eases to 10.4% in August

ANKARA

Spain's annual consumer inflation rate unexpectedly fell to 10.4% in August from the 38-year high of 10.8% in July, thanks to lower fuel prices, preliminary data showed on Tuesday.

August figure, the first slowdown in four months, was below the market forecast of 10.9%.

Fall in fuel prices more than offset the rise in the prices of electricity, food, restaurants and package holidays, according to the National Statistics Institute.

Meanwhile, core inflation, which excludes energy, food, alcohol, and tobacco, increased from 6.1% in July to 6.4% in August, the highest since 1993, the institute said.


On a monthly basis, Spain's consumer prices index rose 0.1% in August following a 0.3% decline in July.