Key facts
- Spain's EU-harmonised inflation rate was 4.6% in August.
- The August inflation rate was higher than the 4.5% forecast.
- Core inflation in Spain decreased to 2.9% in August.
- National consumer prices in Spain rose 4.3% in August.
Spain's European Union-harmonised 12-month inflation rate rose to 4.6% in August, up from 3.9% in July, according to final data from the National Statistics Institute (INE). This figure surpassed both the initial flash reading of 4.5% and the average estimate from Reuters-polled analysts. Core inflation, which excludes volatile fresh food and energy prices, slightly decreased to 2.9% in the 12 months through August, down from 3.0% in July. Separately, Spanish national consumer prices increased by 4.3% in the 12 months through August, an acceleration from the 3.6% recorded in July and in line with the INE's initial measurement.