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Housing CPI Skyrockets, Rising 3.7%, the Highest Figure in the Last 14 Months

14 August 2018

Broad-based inflation also rose by 2.3% for the Spanish economy as a whole, the highest level since April 2017.

The Consumer Price Index (Housing) shot up in July. Rental expenses and provisions increased by 3.7% in relation to the same month in 2017, an inter-monthly increase of 1.1% and the highest increase since May last year (5.4%).

According to data from the National Institute of Statistics (INE), the CPI – Housing started the year in retreat, with a year-on-year decrease of 2% in January, rising at rates of between 0.8% and 1.4% in the following three months.

However, in the last three months, housing inflation has exceeded the broad-based CPI, reaching over 2%, levels that last seen in November of last year.

As for the broad-based CPI for the Spanish economy, the indicator decreased by 0.7% in July compared to the previous month and decreased by one-tenth of its interannual rate, to 2.2%, according to the data published by the INE.

Original Story: EjePrime

Translation: Richard Turner