Electricity and petrol push inflation in Spain to 3.5% in September, but core falls to 5.8%

inflation rises

The increase in electricity and fuel prices has raised the general inflation rate in September to 3.5%, which is nine tenths of a percentage point higher than in the same month last year and its highest level since April.
For its part, the underlying rate moderated by three tenths, to 5.8%, the lowest value since June 2022, according to the leading indicator of the National Statistics Institute (INE).

As the INE explains, this evolution is mainly due to the increase in electricity prices, which fell in September 2022. Also noteworthy, although to a lesser extent, is the rise in fuel prices, compared with the fall recorded in September the previous year, or tenths above that recorded the previous month.

The definitive data for the Consumer Price Index (CPI) for September will be published by the INE on 13 October.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.