Inflation eases to 3.3pc

10th September 2004, Comments 0 comments

10 September 2004, MADRID - Prices rose by 0.4 percent during August, according to figures released Friday.

10 September 2004

MADRID - Prices rose by 0.4 percent during August, according to figures released Friday.

Spain's annual rate of inflation has fallen to 3.3 percent compared with 3.4 percent in July, the National Statistics Institute (INE) said.

Increases in prices pushed year-to-date inflation to 1.8 percent said INE analysts.

Core inflation, which excludes volatile food and energy items, rose 0.3 percent in August and 2.9 percent over the past 12 months, the institute said.

The categories that saw the largest price increases last month were entertainment (up 1.6 percent), transportation (up 1.1 percent) and hotels (up 0.9 percent).

The increase in the transport sector was linked to the rise in petrol prices during the summer.

In other sectors, prices for housing, food and non-alcoholic drinks and medicine showed slower rises. Housing rose 0.4 percent, food and drinks by 0.3pc and medicine by 0.1pc.
Prices fell for clothing (-0.4pc) and for telecommunications (-0.1) because of summer sales and the drop in the price of mobile phones.
Inflation varied in different parts of Spain.

The highest price rises were in Catalonia(3,9pc), Murcia (3,6pc) and Andalucía (3,4pc).

The lowest price rises were seen in Cantabria and the Basque Country (3,2pc), Asturias, Castilla y León (3,1pc), Aragón (2,9pc), La Rioja (2,8pc), the Canary Islands (2,7pc) and Extremadura (2,6pc).

[Copyright EFE with Expatica]

Subject: Spanish news

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