Retail prices pegged back in July

12th August 2004, Comments 0 comments

12 August 2004, MADRID - Retail prices fell by 0.8 percent in July, pushing the year-on-year inflation rate down to 3.4 percent, the national statistics institute (INE) said on Thursday.

12 August 2004

MADRID - Retail prices fell by 0.8 percent in July, pushing the year-on-year inflation rate down to 3.4 percent, the national statistics institute (INE) said on Thursday.

The main reason for the fall was the 10.7 percent drop in the cost of clothing, thanks to the summer sales.

On the other hand, hotel prices rose by 10 percent and packaged holidays by 5.5 percent.

In the shopping basket, fresh food rose by 0.8 percent; sheep meat was up by 3.9 percent, and poultry by 3.4 percent in July, while potatoes fell by 6.3 percent.

Among the sectors that have seen big increases over the past year is fuel, up by 8.4 percent, and energy by 6.6 percent. INE figures also show alcoholic drinks and tobacco up by 5.6 percent, transport by 5.3 percent and food 4.5 percent.

Only one sector is cheaper than a year ago, telecommunications, which has seen a 0.8 percent drop.

By region, the biggest falls in prices in July were recorded in La Rioja, where they were down by 1.3 percent.

[Copyright EFE with Expatica]

Subject: Spanish news

0 Comments To This Article