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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