Annual inflation in Spain ran at 2.8% in July, falling from last month's figure of 3.4%, the country's National Statistics Institute (INE) revealed in its preliminary report on Tuesday.
The cooling in inflation was attributed to declining electricity and food prices. While prices of leisure and culture increased, the growth was smaller than the one registered in the same period in 2023.
Month on month, consumer prices decreased 0.5% in July. Consumer prices, excluding food and energy, rose 2.8% year over year but fell 0.3% compared to June.
