Spain's inflation steady at 2.7% in August

Spain’s inflation remained steady in August, with the annual rate holding at 2.7%.

According to the preliminary indicator from the National Statistics Institute (INE), this is unchanged from July.

The figure reflects fuel prices rising less than they did a year ago. Meanwhile, food and drink prices are falling faster, and electricity costs are increasing more slowly than last August.

As a result, the cost-of-living indicator remains at its highest level since February, when it stood at 3%.

Core inflation, which excludes the most volatile prices, ticked up one tenth to 2.4%.

The INE will release the final figures in mid-September, including data broken down by autonomous communities.

Last month, Catalonia’s annual inflation rate was 2.3%, four tenths below the national average.