The CPI rises to 2.6% in August due to fuels and core inflation eases to 6.1%

MADRID, 30 Ago. (EUROPA PRESS) -

The Consumer Price Index (CPI) increased by 0.5% in August in relation to the previous month and raised its interannual rate by three tenths, up to 2.6%, mainly due to the rise in fuel prices and liquid fuels.

With the advance in August, inflation chains two consecutive months of rises after it rose four tenths in July, up to 2.3%, according to advanced data published this Wednesday by the National Statistics Institute (INE).

Faced with the increase in the cost of fuels and liquid fuels, Statistics highlights that electricity prices rose in August of this year less than they did in the same month of 2022.

The body includes an estimate of core inflation in the CPI data preview (excluding unprocessed food and energy products), which fell one tenth in August, to 6.1%, standing 3.5 points above the general CPI .

The Ministry of Economic Affairs has highlighted in a statement that the advanced CPI data "consolidates" Spain "as one of the countries in the euro zone with the lowest inflation", after lowering it by nearly 8 points in the last year.

"This favors the competitiveness of Spanish companies, gaining market share and increasing the purchasing power of wages", underlined the Department headed, acting, by Nadia Calviño.

According to Economy, the economic policy measures applied in Spain mean that the country has "one of the highest levels of economic growth with the lowest levels of inflation" within the European Union.

In monthly terms (August over July), the CPI registered an increase of 0.5%, three tenths more than what it rose the previous month. With this rebound, inflation chains three consecutive months of monthly increases.

In the eighth month of 2023, the Harmonized Consumer Price Index (IPCA) placed its interannual rate at 2.4%, three tenths above the rate registered the previous month.

For its part, the estimated monthly variation of the IPCA was 0.5%.

The INE will publish the final CPI data for August on September 12.