Inflation rate for June highest for five years

29th June 2006, Comments 0 comments

29 June 2006, MADRID — Inflation fell by one point to 4 percent in June, according to the latest figures released on Thursday.

29 June 2006

MADRID — Inflation fell by one point to 4 percent in June, according to the latest figures released on Thursday.

The Index of Harmonized Consumer Prices  (IPCA) showed the highest year-on-year inflation rate in June since 2001 when the rate was 4.2 percent.

José Luis Martínez Campuzano, a strategist for Citigroup in Spain, said the market was expecting a more substantial fall in inflation to between 3.8-3.9 percent, due to the way energy prices had stabilised to some degree.

But Campuzano said a final figure for June would be known until mid July.

The inflation rate uses data from Eurostat, the European Union statistics agency, and it corresponds with information released by the European Central Bank.

[Copyright EFE with Expatica]

Subject: Spanish news

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