Inflation eases to 3.3pc

30th August 2004, Comments 0 comments

30 August 2004, MADRID - Spanish inflation hit 3.3 percent in August on a year-on-year basis, according to figures published Monday.

30 August 2004

MADRID - Spanish inflation hit 3.3 percent in August on a year-on-year basis, according to figures published Monday.

The latest figure is slightly lower than the 3.4 percent figure in July, provisional figures released Monday by the national statistics institute INE showed.

Final inflation figures are to be published on 10 September.

Economy Minister Pedro Solbes said Friday he hoped inflation would ease to around 3.0 percent by the end of the year, despite being fuelled by high oil prices.

He said that he did not believe the earlier rise in crude oil prices, caused by terrorism and the on-going war in Iraq, would significantly dent the Spanish economy.

[Copyright EFE with Expatica]

Subject: Spanish news

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