Higher energy costs pushed Spain’s EU harmonised inflation to a higher-than expected 5.3 percent in July from 5.1 percent in June, marking a record high, a preliminary government estimate showed on Thursday.

Spanish inflation overshot a 5.2 percent Reuters forecast to reach its highest level since the Spanish government began monitoring the data in January 1997.

The result preceded wider euro zone data at 0900 GMT which is expected to show inflation in the 15-member currency bloc rose to a record 4.1 percent in July from 4 percent in June.

The Spanish preliminary result followed data on Tuesday that showed German inflation unexpectedly held at 3.3 percent in July, its highest level in nearly 15 years.

Source: http://www.afxnews.com

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