Prices increased in August by 2.2% compared to the same month of 2023, a rebound six tenths lower than that recorded in July (2.8%) and the lowest since June 2023 (1.9%).
The National Institute of Statistics (INE) published this Thursday the advance data of the consumer price index (CPI), which shows a moderation of prices due to the lowering of fuel prices, which rose in August of last year.
The fall in food prices and non-alcoholic beverages, more intense than in August 2023, has also contributed to this containment.
If these data are confirmed on September 12, inflation would add three consecutive months of decline - in May it was 3.6% - and would fall back to levels not seen since June 2023.
The INE estimates that core inflation, which does not take into account the prices of unprocessed food or energy products because they are the most volatile, stood at 2.7% year-on-year in August, one tenth less than in July and the lowest figure since January 2022, when it was 2.4%.
The Minister of Economy, Carlos Cuerpo, celebrated in a video sent to the media these "good economic news" because the inflation data advances in the "process of moderation of prices towards the 2% target of the European Central Bank".
"Spain is going in the right direction," agreed the President of the Government, Pedro Sánchez, on his X account, while the Deputy Secretary of Economy of the PP, Juan Bravo, lamented that "today Spaniards are poorer than a year ago" due to the rise in prices.
UGT has argued that it is "coherent and necessary" to reinforce the path of wage growth.
