Madrid: Spain's inflation rose more than estimated in July, final data from the statistical office INE showed on Thursday. Consumer price inflation accelerated to 3.6% in July from 3.2% in June. A similar higher rate was last seen in May 2024. The rate was revised up from the provisional estimate of 3.5%.

According to Emirates News Agency, EU harmonized inflation also rose more-than-estimated to 3.9% in July from 3.6% in June, surpassing the initial estimate of 3.8%. Meanwhile, underlying inflation slightly increased to 3%, in line with estimates, from 2.9% in the previous month.

The cost of transportation climbed 6.2% due to the rise in fuel and lubricant prices. Housing prices advanced by 5.7% on account of higher electricity prices, as reported by dpa, citing official data.

Compared to the previous month, consumer prices rose at a slower pace of 0.3%, following a 0.6% gain. Prices were initially estimated to have increased by 0.2%. The harmonized index of consumer prices remained flat on a monthly basis, compared to the flash estimate of a 0.1% drop.