RTTNews - Spain's consumer price index dropped 1.4% year-on-year in July, a final report by the National Statistics Institute said Thursday. The drop follows a 1% decline in June, and was also in line with economists' expectations.

Month-on-month, consumer prices fell 0.9% , after a 0.4% rise in June, and matched economists' expectations.

Meanwhile, the harmonized index of consumer prices fell 1.4% year-on-year in July, faster than a 1% fall in the preceding month, and in line with economists' expectations, thereby confirming initial estimates.

Compared to the previous month, the HICP fell 0.8% in July, after a 0.5% rise in the preceding month. Economists expected a 0.9% drop.

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