Spain inflation rises to 3.6% in July on energy costs

Spanish inflation accelerated to 3.6% year on year in July from 3.2% in June, final data from the statistics office INE showed Thursday.

INE said higher energy costs, especially motor fuels and electricity, pushed up transport costs. It said prices for food and non-alcoholic beverages fell, particularly for fruit and vegetables.

The final July figure was above INE's initial estimate of 3.5%.

Spain's central bank had already raised its inflation forecast in June. It expects inflation to reach 3.6% for the full year, compared with a previous forecast of 3.0%.

Global energy markets have been affected by the closure of the Strait of Hormuz, a key route for oil and gas exports from the Gulf region, after US and Israeli attacks on Iran.