Inflation soars to 4.9% in September and food prices rise by 2.7%
The annual CPI soared to 4.9% in September due to fuels, to a three-year high, and underlying inflation stands at 3.1%, according to the data confirmed by the INE. Food inflation rises 2.7%.
Spain's annual Consumer Price Index (IPC) surged to 4.9% in September, a three-year high, driven by fuel price increases, according to the Instituto Nacional de Estadística (INE). The underlying inflation rate, excluding energy and unprocessed food, rose to 3.1%. Food prices increased by 2.7% year-over-year, while the harmonized index, used for international statistics, rose to 5.0%. The current inflation rate will not trigger any fiscal reductions in VAT or the Special Tax on Electricity.
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