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- Liva & Laia : 15th November
Data released earlier today by Spain's National Institute of Statistics has shown how Inflation for the month of August has slowed to reach the lowest rate in 9 months, as public spending has declined amid high unemployment fears.
Consumer prices, based on European Union calculations, rose 2.7% when compared with the same period last year, which is the slowest growth seen since November. The rate fell from 3% in July, with Inflation standing at 2.9%.
Figures release yesterday reported how Mortgage application approvals had fallen for a 14th consecutive month, and today's figures showed retail sales had fallen for the 13th month in July. This was explained in part due to the on-going levels of high unemployment.
The rate of inflation remains above the euro average, even as the economy of the country is seeing a much slower recovery than the rest of Europe. Euro- region inflation was though to be around 2.5% in August, unchanged from July, according to the average estimate of 35 economists in a survey undertaken by Bloomberg.