Inflation: the rise in prices in Spain reached 10.8% in July, a record for 38 years

In Madrid as in Paris, no lull on the inflation front. In Spain, prices increased by 10.8% between July 2021 and 2022, according to figures from the National Institute of Statistics (INE) published on Friday August 12. This is 0.6 points more than in June, and a record increase since September 1984.

The INE points the finger at three main culprits. First, housing-related expenses: they increased by 23% over one year and 4% over one month, in particular due to the explosion in electricity prices, despite the price cap introduced in June. This is followed by the clothing and footwear sector, then the food and non-alcoholic beverages sector.

Conversely, prices in the transport sector fell by 3% over one month “due to lower fuel prices”, specifies the INE. Enough to revise downwards the level of underlying inflation, which does not take into account certain very volatile prices such as energy, and which stood at 6.1% over one year in July – its highest level since January 1993.

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