September 29, 2023
According to preliminary estimates, Spain’s annual inflation rate increased for the third consecutive month to 3.5% in September 2023, up from 2.6% in August. It was the greatest inflation rate in five months, owing primarily to an increase in fuel prices and, to a lesser extent, liquid fuel prices, compared to September 2022 declines. Annual core inflation, which excludes volatile fresh food and energy prices, fell to 5.8% in September, from 6.1% in August. In September, EU-harmonized inflation was 3.2%, up from 2.4% in August but falling short of market estimates of 3.3%. Consumer prices rose 0.2% month on month in September.
Source: Trading Economics
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