in Spain in August third lowest rate inflation It was 2.6% across all OECD countries, thanks in particular to the decline in energy from mid-2022 peaks, and the recovery in oil that month was smaller than in most members of the organisation.
Annual inflation in the Organization for Economic Co-operation and Development (OECD) rose to 6.4 percent in August. compared to 5.9% in Julywhile inside In Spain, the increase was three tenths with 2.6 percent.
Only the rates were lower than in Spain. Denmark (2.4%), Switzerland (1.6%) and especially Costa Ricawas negative (-3.3%). It should be noted that a year ago, that is, in August 2022, inflation in Spain (10.5%) was slightly above the OECD average (10.3%).
In the case of Spain, as in the vast majority of the organization’s members, the increase in inflation in August this year compared to the previous month was due to the increase in oil prices, which led to a decrease on an annual basis. The increase in energy is less pronounced than in July.
energy drop
Especially, fall energy In the twelve-month period, this rate was 24.3% in Spain in July and 21.5% in August. Across the OECD, these declines were 7.5% and 1.5%, respectively.
HE increase in food prices On an annual basis in Spain in August the rate was still slightly higher than in the OECD as a whole (8.8%) (10.5% after 10.8% in July).
Excluding energy and food, which are usually the most volatile elements, headline inflation in Spain that month was 4.8%, the same as in July, while in the OECD it rose by a tenth to 6.8%, or two percentage points more.
There were eleven member countries Core inflation lower than Spanish inflation in AugustAlthough the euro area (5.3%) continues to rise.
Among Spain’s main economic partners, headline inflation in August was 4.9% in France, 6.1% in Germany, 5.4% in Italy, 6.3% in the United Kingdom, 3% in the Netherlands, It was 3.7% in Portugal and 3.7% in the USA. or 0.1% in (non-OECD) China.