MADRID: Spain’s consumer price inflation eased for the third consecutive month in August, dpa reported on Thursday, quoting initial data from the national statistics office (INE).

The consumer price index (CPI) posted an annual growth of 2.2 percent after rising 2.8 percent in July. Inflation was lower than economists’ forecast of 2.4 percent.

Core inflation, which excludes prices of unprocessed food and energy, moderated to 2.7 percent from 2.8 percent a month ago. Inflation based on the harmonised index of consumer prices (HICP) dropped to 2.4 percent from 2.9 percent in July.

Month-on-month, both the CPI and HICP remained flat in August. The CPI had been forecast to climb 0.1 percent, reversing a drop of 0.5 percent in July, while the HICP was expected to grow 0.2 percent following a 0.7 percent decrease.

Source: Emirates News Agency