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Spain records second-highest rise in inflation in the Eurozone in June
Economy

Spain records second-highest rise in inflation in the Eurozone in June

The country also continues to lead the unemployment table with 11.7% of its population without work, almost double the Eurozone average

Olatz Hernández

Madrid

Tuesday, 2 July 2024, 14:35

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Spain recorded the second-highest rise in inflation in June among the Eurozone countries the latest data shows.

Prices fell to 2.5% last month, down from 2.6% the previous month, according to the European Statistical Office (Eurostat). But Spain was the second country in the Eurozone with the highest inflation (3.5%), only behind Belgium, the figures show. The Spanish figure, however, is an improvement on May, when prices increased by 3.8%.

In EU countries, core inflation - that which excludes energy and unprocessed food prices - also fell, registering a rate of 2.8%, compared with 2.9% the previous month. Services continue to put pressure on prices although they remained stable compared with May (4.1%), followed by food, alcohol and tobacco at 2.5%.

May unemployment

Eurostat also released the unemployment rate for May, which stood at 6.4% in the Eurozone. The rate is stable compared to April, showing a reduction of 0.1% compared to May 2023. Eurostat estimates there were 11.078 million unemployed people in the Eurozone in May.

By country, Spain continues to lead in unemployment figures with 11.7% of its population jobless, a percentage that is almost double the Eurozone average and has remained stable since March. Only Greece, with 10.6% unemployed, is comparable to Spain.

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