Spanish deflation eases in August

Deflationary pressures in Spain eased significantly in August, chiefly as a result of a slower drop in transport costs.

The country's headline consumer price index slipped at a 0.1% year-on-year clip, according to the country's national statistics office, INE, coming in five-tenths of a percentage point above the previous month's reading.

Core inflation meanwhile accelerated from a 0.7% year-on-year pace to 0.9%.

In comparison to July, CPI increased 0.1% month-on-month.

The harmonised CPI retreated at a 0.3% year-on-year pace, up from a drop of 0.7% in July, confirming a preliminary estimate.