Recession worsens, inflation up in July

Spanish inflation rose in July to 2.2 percent, compared to the 1.9 percent rate recorded in May and June, due to an increase in medicine prices, the highest level since the beginning of the year, according to data released by the National Statistics Institute. Recession also worsened in the second trimester of the year with a negative GDP growth of 0.4 percent compared to the previous trimester and of 1 percent on an annual basis, the National Statistics Institute said. The GDP decrease on an annual basis is six tenths over that registered in the first trimester of the year. The Spanish economy has recorded three trimesters of negative growth.