Spain 12-month inflation at 2.3% in July, up from 1.9% in June

Spanish national consumer prices rose 2.3 percent in the 12 months through July, final data from the National Statistics Institute (INE) showed on Friday.

The final reading confirmed both the flash estimate released by INE two weeks ago and the average estimate by analysts polled by Reuters.

The year-on-year increase was mainly due to the rise in the prices of fuel and lubricants for personal vehicles compared with the decline they saw in July 2022.

Clothing and footwear prices fell less than they had in July 2022, while the prices of holiday packages rose more than in the same month last year. Fruit and oil prices also saw an uptick after they had decreased in July 2022.

Meanwhile, electricity and gas prices were lower this year after having climbed in July 2022.

Core inflation, which strips out volatile fresh food and energy prices, was 6.2 percent in the 12 months through July, up from 5.9 percent in the 12 months through June, INE said.

The 12-month European Union-harmonized inflation was 2.1 percent, in line with both the flash estimate and the forecast by analysts polled by Reuters.

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