Inflation continued

to

rise in July in the old continent, but while in the

Eurozone

average it rose by 0.3 points to

8.9%

and in the

EU

, by 0.2 to

9.8%,

in

Spain

the The rise in prices accelerated by 7 tenths to

10.7% in July in harmonized terms

, which leaves our country as the great European economy with

the greatest lack of control over the wave of inflation.

Specifically, of the eight largest European economies by Gross Domestic Product (GDP) at the end of 2021 according to Eurostat data,

Spain is the third with the highest

year-on-year increase in prices, only behind

Poland -

the sixth economy in the Eurozone, whose prices rose by

14.2%

year-on-year in July- and the

Netherlands

, fifth economy behind the Spanish with an inflation of

11.6

% in July.

According to data published this Thursday by Eurostat, inflation in

the three leading European powers

is more

moderate:

in

Germany

, 8.5%;

in

France

, 6.8% in July, and in

Italy

, 8.4%.

"In July, the largest contribution to year-on-year inflation in the eurozone came from

energy

(+4.02 percentage points), followed by

food, alcoholic beverages and tobacco

(+2.08 points), services (+ 1.6 points) and non-energy industrial goods (+1.16 points)," explained the community statistics office in a statement.

Inflation in our country has not stopped rising so far this year.

It went from

7.6% in January

, to 6.1% in February and

9.8% in March, in what was believed to be the peak

of price increases.

However, despite what seemed like a truce in April and May (with the CPI of 8.3% and 8.7%), June surprised on the rise with a year-on-year increase in prices of 10.2% and

in July the index It has come dangerously close to 11%

, closing at 10.8%, according to INE data.

This indicator is one tenth away from the harmonized one, since it is statistically manipulated to homogenize the price measurement with what is done in other European countries.

Thus,

inflation in Spain has not let up despite the measures

approved by the Government to contain it -such as the fuel discount, which has reduced the price of fuel, or the rent ceiling- and also

despite the announcements

that have been made in the month of July and that have not yet materialized -such as discounts on public transport passes-.

However, despite the fact that the rise in prices oppresses families and companies in Spain,

inflation is much higher in other smaller European economies.

Estonia

is the one with the biggest problem, with inflation of

23.2%

in July;

followed by

Latvia

(21.3%),

Lithuania

(20.9%), the Czech Republic (17.3%), Bulgaria (14.9%) and Hungary (14.7%).

Portugal

, despite being part of the Iberian energy island, has a more controlled inflation of

9.4%

, while in

Greece

it stands at

11.3%.

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