Spanish Underlying Prices Unchanged in June as Slump Deepened

Spain’s underlying consumer prices were unchanged in June as the economy slumped further into its second recession since 2009.

Core consumer prices, which exclude energy and fresh food, were unchanged from the prior month, when they rose 0.2 percent, the National Statistics Institute in Madrid said today. From a year ago, core inflation was 1.3 percent. Prices were forecast to fall 0.1 percent in the month and increase 1.1 percent from a year earlier, according to a Bloomberg survey of four economists.