RTTNews reports that Spain's consumer prices declined for the fifth consecutive month in August, as initially estimated, final data from the statistical office INE showed.

The consumer prices fell 0.5 percent on a yearly basis in August, following a 0.6 percent drop in July. Prices have been falling since April. The rate came in line with the estimate released on August 31. At the same time, underlying inflation eased to 0.4 percent from 0.6 percent in July.

On a month-on-month basis, consumer prices remained unchanged in August, as estimated, but in contrast to a 0.9 percent drop in July.

The harmonized index of consumer prices declined 0.6 percent annually in August versus a 0.7 percent drop in July.