Alex Trelinski
INFLATION in Spain rose to 10.8% in July, which is the highest rate since December 1984.
Figures released by the National Statistics Institute on Friday showed that despite significant falls in petrol prices, rising electricity and food costs caused a 0.6% increase on the June inflation rate.
Energy products were 41% more expensive compared to July 2021 with some basic foods up by over 20%.
The inflation rate has gone up for three consecutive months after a 1.5% fall in April.
In May it climbed to 8.7% and reached 10.2% in June, despite the introduction of a government price cap on gas and other initiatives to lower inflation.
Core inflation (which does not include fresh food or energy) also went up by 0.6% in July to stand at 6.1%- the highest since January 1993.
On the food side, the situation is giving serious cause of concern.
Basic products in the shopping basket such as oil have registered a rise of 28.6% in one year-
Over the same period, eggs and milk are up by 22.5%; cereals 20%; and bread at almost 15%.
There are double digit rises for chicken (16.3% more expensive than a year ago); fish (11.4%); beef (14.5%); fruit (15%); legumes (15.5%); potatoes (13.5%); and coffee or cocoa (12%).
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