THE inflation fell in August to 2.3%, a considerable drop compared to Junebut this reflects that Spain is still above the level that central banks consider necessary for price stability, which is 2%. For its part, the underlying rate has only fallen by a tenth, to 2.7%. This was revealed on Thursday by the National Institute of Statistics (INE), which published the final data of the Consumer Price Index (CIP).
“The Governing Council of the ECB (European Central Bank) considers that the best way to maintain price stability in the eurozone is to have an inflation target of 2% in the medium term,” explains the Bank of Spain.
In addition, experts from the Group of Savings Banks Foundation (Funcas) revealed this Wednesday that there would be a rebound in the Spanish IPC which will ensure that the annual average does not fall below 3%.
In the coming months, the consensus expects a slight rebound in the general economy, mainly due to base effects, which would put an end to the December at 2.8%. The forecast for the average annual rate in 2024 is 3% for the general – two tenths less than in the previous Panel – and for the underlying -which remains unchanged-. For 2025, the forecast remains at 2.3% for both rates, with a one-year rate in December of 2.2%.
Expansion will continue
