Spain’s inflation reaches highest rate in more than three years
Inflation in Spain accelerated in September to its highest level since February 2023, driven mainly by rising fuel and air travel prices, according to final figures released by the National Statistics Institute (INE) on Wednesday. The EU-harmonised annual inflation rate rose to 5.0%, up from 4.6% in August. The final figure matched both the INE’s […] The post Spain’s inflation reaches highest…
Spain's inflation hit its highest level in over three years in September, according to the National Statistics Institute's final figures released on Wednesday. The EU-harmonised annual inflation rate surged to 5.0%, up from 4.6% in August. The core inflation, which excludes volatile fresh food and energy prices, also rose to 3.1% from 2.9%.
This marks the first time Spain's inflation rate has reached this level since 1984, a figure last seen in 2022. The surge in prices is primarily attributed to rising fuel and air travel costs. This trend of inflation has persisted above the European Central Bank's 2% target since the aftermath of the Covid-19 pandemic and Russia's invasion of Ukraine.
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