Inflation in Spain surges to 4.9% in September

inflation board

The advance indicator of the Consumer Price Index (CPI) published by the INE sets annual inflation at 4.9% in September, six-tenths higher than in August. Core inflation—which excludes energy and unprocessed food—also increases to 3.1%, confirming that the price rise is structural and affects the daily shopping basket. The HICP, the index comparable at the European level, reaches 5.0%.

According to the INE, this surge is mainly explained by the rise in the prices of fuels and lubricants, which went up compared to a drop in September of last year. Package holidays also played a role, as their prices fell less than in 2025. The monthly CPI rate stands at 0.3%, confirming that prices continue to rise month after month.

With average rents exceeding 1,176 euros and purchase prices requiring down payments of over 66,900 euros, the combination of inflation, fuel, and housing is pushing thousands of households into a situation of economic vulnerability.

“Living costs are rising much faster than wages, making it impossible to make ends meet; the wage increase proposal being raised in collective bargaining is completely insufficient,” denounces Joaquín Pérez, Secretary General of USO.

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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.