Inflation in Spain hits 37-year high ...News

The annual rate surpassed 10% last month, official data shows Spain has recorded its highest inflation since April 1985, surging to 10.2% in June from 8.7% in the previous month, preliminary data from the National Statistics Institute (INE) showed. The reading was higher than the 9.0% forecast by analysts polled by Reuters. The INE data showed that core inflation, which strips out volatile food and energy prices, climbed to 5.5% year-on-year from 4.9% a month earlier, the highest since August 1993. “The news of the last few weeks is not positive ... Russia’s gas and oil export cuts are accelerating rising energy p

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