Inflation has increased sharply in Spain to reach 2.2 percent in July, the Spanish National Statistical Institute reported on Monday.

According to the Consumer Price Index (CPI), the increase in the inter-annual inflation rate was mainly due to costlier medicines and pharmaceutical products.

However, the index only provides an estimate with final results scheduled to be revealed on August 14.

The CPI had remained stable in May and June at 1.9 percent, following an increase in April primarily due to higher prices of tobacco and electricity.

Inflation in Spain is currently at its highest level since December last year when the rate reached 2.4 percent.