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Inflation in Spain highest 18 months

Thu 29th Jul 2010

Prices in Spain are rising faster than at any time in the past year and a half, according to figures published Thursday by the National Institute of Statistics (INE).

The figures show Spain's inflation rate for June stood at 1.9 percent, 0.4 percent higher than 12 months ago and the highest in the last 18 months.

INE attributed the increase mainly to the prices of food, non-alcoholic drinks and organized travel, which usually rises at this time with the holiday season in full swing.

High fuel costs took the Harmonized Consumer Price Index to a record high of 5.3 percent in June 2008, but that was the moment when prices began to decline. Spain witnessed an inflation rate of 2.4 percent in November 2008, the highest level registered until the prior month.

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