Spain's inflation rate eased to 2.8% in July, marking a six-tenths decrease from the previous month, according to the National Statistics Institute (INE).

This decline is attributed to lower prices in electricity and food, particularly olive oil and fruit, which benefited from a temporary VAT reduction to 0%.

The core inflation rate, excluding volatile items like fresh food and energy, also fell to 2.8%, the lowest since January 2022. Despite the overall positive trend, sectors like hospitality and travel continue to exert upward pressure on prices.

The Spanish economy remains robust, balancing strong GDP growth with price moderation, as highlighted by the Ministry of Economy.

However, challenges persist, with services in both Spain and the broader Eurozone experiencing price increases.