October 17, 2023
In September 2023, Spain’s annual consumer price inflation was verified to be at a five-month high of 3.5%, up from August’s 2.6%. This increase was principally caused by a significant increase in transportation prices (+3.8% vs +1.2% in August), particularly for fuel and lubricants for personal automobiles. The annual core inflation rate, which excludes volatile fresh food and energy prices, decreased to 5.8% in September from a reading of 6.1% in August, which was in line with the previous projection. This is the lowest level since June 2022. According to the preliminary assessment, consumer prices increased by 0.2% on a monthly basis in September, slowing from a 0.5% gain in August.
Source: Trading Economics
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