Spain's inflation rate narrowsagainst eurozone average

18th August 2004, Comments 0 comments

18 August 2004, MADRID - The gap in inflation rates between Spain and the rest of the eurozone countries narrowed slightly in July, the National Statistics Institute (INE) said on Wednesday.

18 August 2004

MADRID - The gap in inflation rates between Spain and the rest of the eurozone countries narrowed slightly in July, the National Statistics Institute (INE) said on Wednesday.

The difference between Spain's Retail Price Index (RPI) and the average for the 12 other countries dropped by one decimal point to exactly one point – 3.3 percent in Spain against an average of 2.3 percent.

Spain saw the second-highest inter-annual inflation rate among the euro-currency countries after Luxembourg where the rate reached 3.8 percent.
The third-highest was Greece at 3.1 percent and then came Portugal at 2.9 percent.

At the other end of the scale, Finland saw its RPI rise by just 0.2 percent.

Over all 25 countries in the European Union, the average inflation was 2.2 percent said INE. New members Slovakia and Hungary saw the biggest rises, up 8.3 percent and 7.2 percent respectively.

The lowest rates were all in 'old guard' countries of the EU, the UK where it rose by 1.4 percent, Sweden by 1.2 percent and Denmark by 1 percent.


[Copyright EFE with Expatica]

Subject: Spanish news

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