Spain's inflation rises to 2.7% in July

Inflation in Spain increased for the second consecutive month in July, reaching 2.7%.

Having eased to 2.0% in May, the inflation rate climbed to 2.3% in June, rising by a further 0.4% in July.

This increase is primarily due to rising electricity prices, compared to a decline in July 2023, as well as higher fuel costs.

The estimated annual rate of core inflation, which excludes food and energy, also increased by one tenth to reach 2.3%.