Spain's consumer price inflation eased further in June to the lowest level in more than two years, mainly due to a slower rise in prices for fuel, electricity, and food products, flash estimates from the statistical office INE showed Thursday.
The consumer price index, or CPI, climbed 1.9 percent year-over-year in June after a 3.2 percent increase in May. Economists had expected inflation to moderate to 1.7 percent.
The latest rate was the lowest since March 2021, when prices had risen 1.3 percent.
The rise in fuel, electricity, and food and non-alcoholic beverages prices has been lower than in June last year, the agency said.
Excluding non-processed food and energy prices, core inflation softened slightly to 5.9 percent from 6.1 percent in May.
On a monthly basis, overall consumer prices moved up 0.6 percent in June after remaining flat in the prior month. Prices were forecast to rise by 0.3 percent.
EU-harmonized inflation moderated to 1.6 percent in June from 2.9 percent a month ago. The expected increase was 1.5 percent.
Month-on-month, the HICP rebounded 0.6 percent versus a 0.1 percent drop in May and an expected increase of 0.4 percent.
