Overview

• Spain’s year-on-year inflation rate climbed to 2.2% in June, marking a two-tenths increase from May.
• The increase was driven mainly by higher fuel costs, which reversed last June’s price declines.
• Food and non-alcoholic beverage prices rose faster than a year earlier, contributing to the overall uptick.
• Core inflation held steady at 2.2% as monthly consumer prices grew by 0.6%, extending a nine-month run of increases.
• Spain’s economy remains a growth engine among major European countries, with final June inflation figures scheduled for release on July 15.