According to the flash estimate issued by the INE, the annual inflation of the CPI in July 2019 was 0.5%. This indicator provides a preview of the CPI that, if confirmed, would imply an increase of one tenths in the annual rate, since in June this change was 0.4%. Economists had expected a 0.6% increase. This behaviour highlights the decrease in the prices of food and no alcoholic drinks, which have decreased this month less than in July 2018. 

In turn, the annual variation of the flash estimate of the HICP in May stands at 0.7%. If confirmed, the annual rate of the HICP would increase one tenths with respect to the previous month. 

According to the flash estimate of the CPI, consumer prices registered a variation of -0.6% as compared with June.  In turn, the monthly change of the HICP flash estimate in July stood at -1.1%.