Spain Inflation Rises More Than Estimated To 2.3%

(RTTNews) - Spain's inflation rose more than estimated in June, final data from the statistical office INE showed on Tuesday.

The consumer price index climbed 2.3 percent year-on-year in June. The rate was revised up from the initial estimate of 2.2 percent and was above 2.0 percent rise seen in May.

EU harmonized inflation also rose to revised 2.3 percent from 2.0 percent in the previous month. The flash estimate had showed an accelerated to 2.2 percent in June.

At the same time, core inflation that excludes prices of unprocessed food and energy, held steady at 2.2 percent, as initially estimated.

Data showed that transportation, housing and food prices contributed to the higher annual inflation. Transportation cost dropped at a slower pace of 0.8 percent, while housing costs advanced 4.2 percent. Food and non-alcoholic beverages prices moved up 2.8 percent.

On a monthly basis, consumer prices rose 0.7 percent, which was up from the flash estimate of 0.6 percent and May's 0.1 percent gain.

Similarly, the harmonized index of consumer prices climbed to 0.7 percent from flat growth in May. The June rate was revised from 0.6 percent.