Connect with us

Hi, what are you looking for?


Spanish inflation surges to 10 percent in June

FRANKFURT – Inflation in Spain surged to double digits in June, in yet another upside surprise in eurozone price pressures, the Spanish statistics office showed Wednesday.

The annual rate of inflation, harmonized for European statistical purposes, rose to 10 percent in June from 8.5 percent in May. The national reading was 10.2 percent — more than a full percentage point above the 9 percent median forecast in a Reuters survey of analysts.

Underlying inflation, which strips out volatile components of energy and food prices, also accelerated significantly to 5.5 percent from 4.9 percent in the previous month.

Germany is scheduled to release later Wednesday inflation data for June, with analysts expecting an 8.8 percent increase. Eurozone data is due on Friday. Ahead of the Spanish release, it was expected to come in at 8.4 percent, up from 8.1 percent previously.

Another upside surprise in eurozone data could shake up the European Central Bank’s interest rate bets. President Christine Lagarde pointed on Tuesday to “the option to act decisively on any deterioration in medium-term inflation, especially if there are signs of a de-anchoring of inflation expectations.”

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like


During a phone call on Friday, Emmanuel Macron and Vladimir Putin agreed that a team from the International Atomic Energy Agency (IAEA) should be...


Press play to listen to this article Cyprus and Greece are rallying behind Germany in opposing a block on visas for Russian tourists wanting...


Research groups and laboratories investigating what killed thousands of fish in the Oder River running between Poland and Germany are pointing at algae toxins....


Berlin police have opened a preliminary investigation into comments made by Palestinian President Mahmoud Abbas that downplayed the Holocaust. A Berlin citizen whose grandparents were...


Germany should allow the blocked Nord Stream 2 pipeline to begin pumping Russian natural gas so “people do not have to freeze in winter...


Press play to listen to this article European farmers are reckoning with the prospect of a future where parched pastures and shriveled fruits are...


Press play to listen to this article Bavarian Premier Markus Söder and his predecessors spent years battling wind energy projects and high-voltage power lines...

Foreign Policy

Barbara Slavin directs the Future of Iran Initiative at the Atlantic Council. She tweets at @BarbaraSlavin1. There are many reasons why Iranian officials have...