Annual inflation in Spain reached 10.2% in June, according to government data published on Wednesday this week. It is the highest yearly inflation figure in the country since 1985. May’s annual figure was 8.7% and the last figure this high was in March this year, when annual inflation was at 9.8%.
Among the products rising the most in the last 12 months were fuel, by 40.7%, and heating (35%). In terms of food, cooking oil has gone up 37%, milk 20% and bread almost 14%.
According to the data, the rise in prices will mean 3,550 euros more expenditure per year for the average household. The figures disappointed ministers, who said they expected inflation to still be around 9% by year end, before dropping next year.
In terms of monthly changes between May and June, prices shot up 1.9% in just the 30 days of last month, the biggest June increase in Spain since 1977.
Underlying annual inflation in June, which excludes fresh food produce and energy and is a more long-term view, went up to 5.5%, the highest since 1993.