The rise in consumer prices in France accelerates, with the inflation rate reaching 6.1% year-on-year in July, compared with 5.8% in June. This was announced by the statistical institute Insee in the preliminary estimate. Inflation was driven by rising prices for services, as well as food. The rise in energy prices remains high but there has been a slowdown. The inflation rate compared to June shows a variation of +0.3 per cent.
Record inflation in the euro area
Inflation in the Eurozone touches a new record: in July it rose to 8.9%, from 8.6% in June, levels never recorded since the birth of the Economic and Monetary Union. This was announced by Eurostat in its flash estimate. The rise in average inflation continues to be driven by the dynamics of energy prices: + 39.7% in July, compared to + 42% in June. Followed by food, alcohol and tobacco (9.8%, compared to 8.9% in June), non-energy industrial goods (4.5%, compared with 4.3% in June) and services (3.7%, against 3.4% in June).
In Spain GDP + 6.3% on an annual basis
Good news in Madrid. Spain’s GDP grew by 1.1% in the second quarter compared to the previous quarter. This was indicated by the National Statistics Institute Ine. This is a much higher result than expected: in the first quarter the cyclical variation was 0.2 per cent. Compared to the same period in 2021, GDP grew by 6.3 percent.