Spain Inflation August 2022

Harmonized inflation came in at 10.5% in August, down from July’s 10.7%. The reading was primarily driven by increasing prices for food and non-alcoholic beverages. In addition, price pressures for housing and utilities rose at a quicker rate.

The trend pointed up, with annual average harmonized inflation coming in at 7.8% in August (July: 7.2%). Meanwhile, consumer price inflation fell to 10.5% in August, from the previous month’s 10.8%.

Finally, harmonized consumer prices increased 0.26% in August over the previous month, swinging from the 0.58% drop seen in July.

FocusEconomics panelists expect harmonized inflation to average 7.0% in 2022, which is up 0.3 percentage points from the previous month’s projection. For 2023, panelists expect harmonized inflation to average 3.4%.