Spain’s annual inflation rate hits 37-year high Country’s annual inflation rate reaches 10.2% in June – #marketnews


[Spain's annual inflation rate hits 37-year high
Country's annual inflation rate reaches 10.2% in June](

> Spain's annual inflation rate reached 10.2% in June, the highest since April 1985, according to an official statement on Wednesday.

> The inflation rate was 8.7% in May and 2.7% in June 2021, the Spanish statistical authority's data showed.

[Spanish inflation rate notches a 37-year high of 10.2%. German inflation comes in slightly softer, but rates are going up in any case, say economists](

> Spain reported consumer prices soaring at the highest annual rate in 37 years. Alongside that came slightly softer-than-forecast German economic data.

> Germany on Wednesday reported a drop in harmonized consumer-price inflation to 8.2% in June from 8.7% in May, while the country measure fell to 7.6% from 7.9%. This was against expectations for a slight rise. Services inflation was a big driver of the drop, helped by short-term policy measures that cut public-transport ticket prices and fuel duties, noted Jessica Hinds, senior Europe economist at Capitol Economics.

> While that should help keep German inflation under control until August, there is “little reason to think that underlying price pressures in Germany have eased,” she said, noting that “survey measures” indicate “price pressures remain intense.”

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