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What Is the Current and Future Outlook of Inflation in Spain?

20 mins.
18 JULY, 2022
análisis macroeconómico
ANALYSTS:
Beatriz Cortez de Lobão
Leopoldo Torralba
Joaquín Rivera
CATEGORIES:
Macro Spain Monetary Policy Spain AER España AER Global AER Personal
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In June, consumers googled ‘inflation’ more often than at any time since the launch of Google Trends. In the face of surging economic uncertainty, inflation has indeed been its main driver. To this end, a continued monitoring of the situation is required to further gain an insight into its actual nature as well as to be able to accurately forecast its evolution. Based on the latest data released by the Spanish National Statistics Institute, we attempt in this chartbook to provide an answer to the following questions:
What components weigh the most into Spanish consumption?
What is the breakdown of the 10.2% inflation data disclosed?
What are the segments poised to face the largest price increases?
What can we infer from the recent evolution of MoM inflation?
What is driving surging inflation and where is it heading?

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