Consumer prices in Spain rose 10.8% year on year in July, the fastest rate of increase since September 1984, according to preliminary data from the National Statistical Institute (INE).

This value was higher than the forecast of analysts polled by Reuters, at 10.6%.

Core inflation, which excludes food and energy price volatility, was 6.1% year-on-year, compared with 5.5% a month earlier.

Prices in Spain, harmonized with the European Union, rose 10.8% year-over-year, faster than expected.